Ariel Property Advisors has arranged the sale of six properties—five multifamily and one mixed-use—in Brooklyn, Queens and the Bronx for more than $13 million.
The following transactions were closed:
- Two adjacent, four-story walk-up buildings at 5416-5422 4th Avenue in the Sunset Park neighborhood of Brooklyn sold for $5.2 million. The multifamily properties feature 37 rent-stabilized units with an attractive mix of one-, two- and three-bedroom units. The transaction represents the largest fully stabilized sale in Sunset Park since January of 2020. An Ariel team including Victor Sozio, Founding Partner; Stephen Vorvolakos, Director, Investment Sales; Sean R. Kelly, Partner; and Benjamin Vago, Director, Investment Sales, brokered the sale.
- A mixed-use building consisting of five residential apartments and one retail unit at 248 Driggs Avenue in the Greenpoint neighborhood of Brooklyn sold for $3.325 million. The three-story, 4,650-square-foot property generated substantial interest due to rising rents in this prime area of Greenpoint. An Ariel team including Sean R. Kelly, Partner; and Benjamin Vago, Director, Investment Sales, brokered the sale.
- A 5,000 square foot, seven-unit building at 318 Humboldt Street in the heart of East Williamsburg, Brooklyn, sold for $1.725 million. The four-story multifamily property is located near popular retail establishments and around the corner from the L Subway Station at Grand Street. The transaction was brokered by an Ariel team including Benjamin Vago, Director, Investment Sales; and Victor Sozio, Founding Partner.
- A three-story townhouse that includes three residential units, two garages and a basement at 43-05 28th Avenue in Astoria, Queens, sold for $1.53 million. The property offers convenient access to fitness centers, grocery stores, pharmacies, and other retail and restaurant options. The transaction was brokered by an Ariel team including Dorit Pinhas, Director, Investment Sales; Michael Tortorici, Founding Partner; and Alexander Taic, Director, Investment Sales.
- A 6,525 square foot, six-unit walk-up at 541 Coster Street in the Hunts Point section of the South Bronx sold for $1.5 million. The three-story multifamily property includes a mix of one-, two- and three-bedroom units and is in a rapidly growing area of the Bronx that enjoys access to multiple major transportation arteries. The transaction was brokered by an Ariel team including Investment Sales Directors Jason M. Gold and Mark Anderson.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc
