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Newly-Built East Harlem Multifamily Changes Hands
Ariel Property Advisors has facilitated the sale of 57 E. 130th St., a newly-constructed multifamily building in East Harlem. The six-story elevatored property sold for $3.2 million.
Ariel’s Matthew L. Gillis, Michael A. Tortorici, Victor Sozio, Marko Agbaba, and Daniel Mahfar represented the seller, Yoori Oh of Verse Development LLC. They also procured the buyer, Joshua Lee of 57 E 130 ST LLC. The property was delivered vacant.
The 18.25’ wide building, which spans 6,268 square feet, is located between Park and Madison avenues. It includes a three-bedroom garden duplex with backyard access, three floor-through, two-bedroom apartments and a one-bedroom penthouse with a private terrace.
“This unique investment offers the flexibility to lease up and cash flow or sell out as luxury condominiums,” said Gillis. “The property is also located within the East Harlem rezoning, which will surely lend to future rent growth and higher condominium sellouts as density increases.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
