Ariel Property Advisors has closed on two properties for $1.725 million. The deals include:
* A 7,579 s/f property at 5048-50 Broadway & 4022 10th Ave. in Inwood sold for $900,000. The site consists of three parcels and features 52 ft. of frontage along Broadway and 25 ft. along 10th Ave. While commercial zoning would allow 15,158 buildable s/f, no development plans have been made because the property includes a one-story building with a retail tenant holding a five-year lease.
* A four-story, multifamily walk-up located at 100 East 123rd St. in Central Harlem sold for $825,000. The 6,125 s/f property features 10, two-bedroom units—six rent stabilized units, two rent controlled units, one free market units, and one Section 8 unit—and a rooftop Cellular Extension.
Brokers Victor Sozio and Michael Tortorici represented the sellers in both transactions. The buyers and sellers were local investors. Tags: