NEW YORK, NY – March 13, 2012 – (RealEstateRama) — A financial institution has retained Ariel Property Advisors to sell its financial lien positions for nine investment properties in Manhattan, Brooklyn, the Bronx, and Long Island.
The portfolio of performing and non-performing notes includes multifamily, mixed-use, and retail properties, which are being offered individually or as a package. The total principal balance of the portfolio is just under $9 Million.
“This offering is very unique compared to other more distressed note sale packages in that it offers excellent in-place returns on strong collateralized assets,” said Victor Sozio, vice president at Ariel Property Advisors. He went on to say that investors will be able to learn of the specific asset locations after executing a confidentiality agreement, but once that is done they can review comprehensive due diligence materials through the company’s streamlined document viewing systems.
That said, the assets generally consist of the following:
Manhattan
o Upper West Side—a four-story, 5,310 square foot mixed-use property with three residential units and two retail units.
o Washington Heights—a four-story, 2,940 square foot walk-up with four residential units.
o Washington Heights—a vacant, three-story, 3,260 square foot walk-up in need of renovation.
Brooklyn
o Sunset Park—a three-story, 5,340 square foot walk-up with six residential units.
o Bath Beach—a two-story, 4,424 square foot building with two retail units.
The Bronx
o East Tremont—a three-story, 6,226 square foot walk-up with eight residential units and two retail units.
o Wakefield—a four-story, 7,691 square foot walk-up with eight residential units.
o Fordham—a one-story, 3,827 square foot building with seven retail units.
Long Island
o South Shore—a two-story, 3,520 square foot building with four retail units.
Mr. Sozio is working on this assignment together with Shimon Shkury, Michael A. Tortorici, Jonathan Berman, and Scot Hirschfield.
For details, please contact exclusive agents Mr. Sozio, 212-544-9500, ext. 12, vsozio (at) arielpa (dot) com; Mr. Tortorici, 212-544-9500, ext. 13, mtortorici (at) arielpa (dot) com; Mr. Shkury, 212-544-9500, ext. 11, sshkury (at) arielpa (dot) com; Mr. Berman, 718-475-9800, ext. 20, jberman (at) arielpa (dot) com; or Mr. Hirschfield, 212-544-9500, ext. 16, shirschfield (at) arielpa (dot) com.
Ariel Property Advisors is a New York City investment property sales firm with an expertise in the multifamily market. The firm also produces a number of research reports including the Multifamily Year in Review: New York City; Multifamily Month in Review: New York City; Northern Manhattan Sales Report; Northern Manhattan Fundamentals Report. More information is available at arielpa.com.
Photo caption:
Victor Sozio, vice president, Ariel Property Advisors.
Gail M. Donovan
Director of Communications
Ariel Property Advisors
P: (212) 544-¬9500 ext. 19
C: (917) 301-¬5706
E: gdonovan (at) arielpa (dot) com
