Ariel Closes Sale of Upper West Side Section 8 Apartments
Ariel Property Advisors on Monday announced the $75-million sale of Manhattan Valley Apartments, a two-building multifamily portfolio located at 200 Manhattan Ave. and 133 W. 104th St. in Manhattan Valley on the Upper West Side. Founding partner Victor Sozio, president and founder Shimon Shkury and director of research and sales Remi Mandell arranged the sale on behalf of the seller. The buyer was not disclosed.
The portfolio encompasses 143,551 gross square feet and consists of 126 Project-Based Section 8 voucher units. Centrally located in Manhattan Valley, the buildings offer streamlined management and operational efficiencies, according to Ariel.
Located between Central Park West and Broadway, the properties offer immediate access to Central Park as well as the neighborhood’s array of restaurants, retail destinations, and other attractions. Ariel said the area is known for its tree-lined streets, classic brownstones and mid-rise residential buildings, making it one of Manhattan’s most sought-after residential areas.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout