Sozio, Tortorici, Gillis, Berkowitz and Kwilecki of Ariel Property Advisors retained to sell block through assemblage

Manhattan, NY Ariel Property Advisors has been retained to sell 1516-1520 Park Ave. and 94 East 111th St., a block through assemblage along the entire western side of Park Ave. between East 110th St. and East 111th St. in East Harlem. The asking price for the package is $13.9 million. Exclusive agents Victor Sozio, Michael Tortorici, Matthew Gillis, Josh Berkowitz and Joshua Kwilecki are representing the owner. The block-front assemblage extends 200’ along Park Ave. and offers 50’ of frontage along East 111th St. The properties are zoned R8A/R7-2/C1-4/C1-5 and will be delivered with building plans that have been approved by the Department of Buildings for a 48,599 s/f mixed-use property. The proposed structure is comprised of 44 residential units, approximately 4,742 s/f of commercial space, 739 s/f intended for a community facility space and 2,414 s/f of below grade space, which is designated for a commercial and residential storage area. 1516-1520 Park Ave. and 94 East 111th St. are located in close proximity to several new developments, including the revitalized Corn Exchange on 125th Street and recently announced Proton Center on 126th St. The Harlem Meer, Central Park, Marcus Garvey Park and Mt. Sinai Hospital are located in close proximity to the assemblage. The properties provide convenient access to lower Manhattan and the outer boroughs via the 6 subway train just one block away at East 110th St. and Lexington Ave.