Berkowitz, Sozio, Tortorici, Kwilecki and Gillis of Ariel Property Advisors represent seller in $6.66 million sale
August 8, 2016 - Brokerage
Victor Sozio, Ariel Property Advisors
Michael Tortorici, Ariel Property Advisors
Ariel Property Advisors has closed the sale of 584-586 West 152nd St., a 18,960 square foot, five-story walk-up building located on the south side of West 152nd St. between Broadway and Amsterdam Ave. The property sold for $6.66 million, which translates to approximately $350 per s/f and $317,000 per unit.
The property contains twenty-one residential units as well as a unit mix of one one-bedroom apartment, five two-bedroom apartments, and 15 three-bedroom apartments.
Among the twenty-one units, 15 are rent-stabilized, one is classified under Section 8 program, and six are free market.
Exclusive agents Josh Berkowitz, Victor Sozio, Michael Tortorici, Joshua Kwilecki, and Matthew Gillis represented the seller, Duke Properties and procured the buyer, a private investor.
“584-586 West 152nd St. presents investors with the opportunity to own a well operating multifamily asset with significant rental upside in a convenient and rapidly appreciating Hamilton Heights neighborhood,” said Berkowitz, associate vice president.
The property is in close proximity to the 1 train on Broadway, the C train on St. Nicholas Ave., the Henry Hudson Parkway, and the Harlem River Dr.
Nearby neighborhood institutions include: Columbia University, City College, and Columbia Presbyterian Hospital.
