Contact Name : Shimon Shkury
Company Name : Ariel Property Advisors
Email : [email protected]
Phone : 212-544-9500
Fax : 212-544-9501
Address, City, State : 122 East 42nd Street, New York, NY 10168

What was your greatest professional accomplishment in 2012? : Our Investment Sales Division, which specializes in the multifamily asset class and works closely with both private investors and institutions, experienced tremendous growth in transaction volume and market share, while our Research Division produced reports that were referenced by major publications and institutions. To accommodate the growth in our business, we doubled the size of our staff and leased additional office space.

What was your most notable project, deal or transaction in 2012? : The sale of the Southern Boulevard Portfolio consisting of nine Section 8, multifamily buildings located in the Longwood section of the Bronx for $33.25 million. The portfolio was one of the largest sales to close in the Bronx in 2012 and attracted tremendous interest from operators based locally and throughout the country. In less than 60 days, the firm marketed the portfolio and had a signed contract.

What are your predictions for commercial real estate in 2013? : We believe the performance of the multifamily market will exceed its performance in 2012 because the fundamentals will remain strong--rents will continue to rise and it appears that interest rates will remain low. We also think high rents will cause more residents to revisit condominium purchases, which will have a positive effect on land values.

What are your resolutions for 2013? : Continue to focus on and develop members of our staff because they are our main asset.
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