Ariel Closes Industrial Deal on “Attractive Alternative” Staten Island
Ariel Property Advisors arranged the sale of a 36,602-square-foot industrial warehouse at 572 Richmond Terr. on Staten Island, for $6.225 million, which equates to $170 per square foot. The sale was arranged by Ariel partner Sean R. Kelly and director Stephen Vorvolakos. The seller was Zenith Industrial Chemicals and the buyer was Zion Judaica.
“As demand for industrial, factory, warehouse and outdoor storage space continues to rise, pricing metrics in markets like Brooklyn have increased by more than 50%, leading investors and owner-users to look elsewhere,” said Kelly. “Staten Island has become an attractive alternative market for those looking for well-situated properties at affordable prices.”
Situated on Staten Island’s North Shore along the Saint George Waterfront, the industrial building provides easy access to Brooklyn, the outer boroughs and New Jersey via the Verrazano-Narrows, Bayonne and Goethals Bridges. It’s also near the Staten Island Ferry.
