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Ariel Property Advisors Arranges Sale of 14,737 SF Multifamily Development Site on Staten Island

NEW YORK CITY — Ariel Property Advisors has arranged the $2.1 million sale of a 14,737-square-foot multifamily development site on Staten Island. The property is located at 27-31 Wave St. in the Stapleton neighborhood. The buyer, BFC Partners, plans to merge the site with an adjacent 53,422-square-foot lot at 475 Bay St. to construct a mixed-income apartment building. The property offers 167.5 feet of frontage on Wave Street near the Stapleton Waterfront and the Stapleton Staten Island Railway Station. Sean Kelly, Michael Tortorici and John Higgins of Ariel represented BFC Partners in the transaction. The name and representative of the seller were not disclosed.

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