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New York & Tri-State  + Uptown/Bronx  |  August 3, 2018
Paul Bubny
By: Paul Bubny

Ariel Running Foreclosure Sale on One Bennett Park

Ariel Property Advisors has been retained to run the UCC foreclosure process for the development site at One Bennett Park in Northern Manhattan’s Hudson Heights. The auction will take place on August 15 at the Manhattan office of Kramer Levin Naftalis & Frankel LLP.

The site will position buyers to take full advantage of being the first high-rise residential opportunity in the area, according to Ariel. The firm’s Victor Sozio, Shimon Shkury, Michael A. Tortorici, Matthew L. Gillis and David Khukhashvili are leading the foreclosure marketing process, on behalf of Fort Tryon Overlook LLC.

At one time slated for a condominium development (pictured) that was stalled in the 2008 financial crisis, the site will come equipped with all the residential FAR from two adjacent lots, providing developers with approximately 145,997 buildable square feet for a residential development and up to 275,868 buildable square feet with community facility bonus.

For comments, questions or concerns, please contact Paul Bubny

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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 16-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 7-10 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 GlobeSt.com 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).
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