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Ariel Arranges Parcel Sale on Staten Island

Ariel Property Advisors arranged BFC Partners’ acquisition of 27-31 Wave St. in Staten Island’s Stapleton neighborhood for $2,150,000. Ariel’s Sean R. Kelly represented BFC and facilitated the acquisition, along with Michael Tortorici and John Higgins.

The property consists of three contiguous parcels with 167.5 feet of frontage on Wave Street, near the Stapleton Waterfront and the Stapleton Staten Island Railway station. The site will be merged with an adjacent 53,422-square-foot lot at 475 Bay St., which Kelly sold to BFC in 2016 for $3,450,000. BFC plans to build a mixed-income rental apartment building on the land.

“BFC Partners’ acquisition of 27-31 Wave St. demonstrates the firm’s commitment to Staten Island as a dynamic place to live and visit,” said Kelly.

Before purchasing 475 Bay, BFC had entered into a lease agreement there and used it as temporary parking while constructing Empire Outlets, BFC’s retail development on the Staten Island waterfront.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
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