Sozio, Shkury, Tortorici and Deutch of Ariel broker $7.3 million sale; Served as exclusive agents for seller and procured buyer

Ariel Property Advisors has completed the sale of a Washington Heights corner development site at 4452 Broadway featuring 74.5 ft. of frontage along Broadway and zoning that allows for approximately 97,119 buildable s/f. The property traded for $7.3 million. The sales team of Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Deutch served as exclusive agents for the seller, an investment group, and procured the buyer, an international developer. "The corridor along Broadway in Washington Heights has witnessed a very strong and active multifamily market in recent years, but few large development sites have traded," said Sozio, vice president of Ariel. "The sale of 4452 Broadway is a reflection of renewed confidence and increased liquidity within the development market." There are currently four vacant, one-story structures on the lot, which is 24,280 s/f. The property is located near Yeshiva University, Columbia Presbyterian Hospital, the 1 subway station at 191st and St. Nicholas Ave., and the A subway station at 190th St. and Fort Washington Ave.