291-292-Lincoln-Dr-NYC

Ariel Property Advisors Arranges $17.9M Sale of Multifamily Portfolio in Brooklyn

by Amy Works

NEW YORK CITY — Ariel Property Advisors has negotiated the sale of a two-building multifamily portfolio located at 291 and 292 Lincoln Place in the Prospect Heights neighborhood in Brooklyn. An undisclosed buyer acquired the 49-unit package for $17.9 million, or $365,000 per unit. Totaling 41,000 square feet, the two four-story walk-up buildings offer a mix of 36 one-bedroom, 11 two-bedroom and two three-bedroom apartments. Additionally, between both properties there are 12,400 square feet of additional air rights. Jonathan Berman, Michael Tortorici, Shimon Shkury, Victor Sozio and Orry Michael of Ariel Property Advisors represented the undisclosed seller and secured the buyer in the transaction.

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