ARIEL PROPERTY ADVISORS ARRANGES $8.3M SALE OF SIX NYC PROPERTIES

NEW YORK CITY — Ariel Property Advisors has arranged the $8.3 million sale of six properties, including five multifamily buildings and one vacant lot, in Central Harlem, the Bronx and Brooklyn. The New Sierra Portfolio includes four walk-up buildings at 423 and 439 Lenox Ave., 134 W. 133rd St. and 140-42 W. 133rd St. in Central Harlem that sold for $5.2 million. The properties feature 47 residential units and three retail units. Victor Sozio, Shimon Shkury, Michael Tortorici and Jesse Deutch of Ariel Property Advisors represented the seller, an affordable housing developer and operator, and procured the buyer, ABJ Properties. The fifth multifamily building, located at 868 Faile St. in the Hunts Point section of the Bronx, sold for $2 million. The four-story, 17,860-square-foot building includes 21 apartments. Scot Hirschfield, Shkury, Jason Gold, and Sozio of Ariel Property Advisors marketed the property on behalf of the seller, a private investor, and procured the buyer, a local investor. The vacant lot, located at 1164 Greene Ave. in the Bushwick section of Brooklyn, sold for $1.1 million. The property features 50 feet of frontage and approximately 11,000 buildable square feet. Daniel Tropp, Jonathan Berman and Mark Spinelli of Ariel Property Advisors marketed the property on behalf of the seller, a private investor, and procured the buyer, also a private investor.