News: Brokerage

Spinelli, Tortorici, Shkury, Tropp and Berman of Ariel Property Advisors close $2.7 million sale

Brooklyn, NY Ariel Property Advisors has brokered the sale of 392 15th Street, a three-story, six-unit multifamily building in Park Slope. Located between Seventh and Eighth Aves., the property is located one block west of Prospect Park. The property sold for $2.7 million. The 4,860 s/f building contains six residential units, of which there are five two-bedroom apartments and one three-bedroom duplex. Five of the building’s units have free-market status and one apartment is rent-controlled. Exclusive agents Mark Spinelli, Michael Tortorici, Shimon Shkury, Daniel Tropp, and Jonathan Berman, represented the seller, a private investor. “Offering in-place income, rental upside, and a prime location in an established area, 392 15th St. stands out as a unique Brooklyn multifamily opportunity,” said Spinelli, vice president at Ariel. The building is located in an ideal area with easy access to Grand Army Plaza, The Brooklyn Museum, and the future Nitehawk Prospect Park movie theater. Several transportation options are in walking distance from the property, including the F, G, and R trains.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent