Ariel Property Advisors facilitates $11.625 million sale of two multifamily properties

Manhattan, NY Ariel Property Advisors has closed the sale of two multifamily properties totaling $11.625 million.

The properties are located at 422 Saint Nicholas Ave. in the Central Harlem area and 304 West 147^th St. in the Hamilton Heights neighborhood.

304 East 147^th St.: The 40 ft. wide six-story property spans 15,300 s/f, and sold for $7.3 million. The building, located on the south side of West 147^th St. between Bradhurst Ave. and Frederick Douglas Blvd., contains 33 residential units. The property has a unit mix of four studio units, eight one-bedroom units, and 21 two-bedroom units.

Exclusive agents Victor Sozio, Shimon Shkury, Michael Tortorici, Matthew Gillis and Joshua Kwilecki represented the owners and secured the buyers for the sale.

422 Saint Nicholas Ave.: The 26 ft. wide five-story walk-up property spans 11,105 s/f and sold for $4.325 million. The building, located across from St. Nicholas Park, is comprised of 10 units: two two-bedroom and eight two-bedroom units. In addition, R8 zoning allows for 9,178 s/f of air rights for future use.

Sozio, Kwilecki and Gillis represented the owners and procured the buyers for the sale.