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Trio of Glendale Apartments Trades for $16M

Ariel Property Advisors has facilitated the sale of the Glendale Multifamily Portfolio, three adjoining apartment buildings in the Glendale neighborhood of Queens. The 72-unit trio sold for $15.96 million, or $221,597 per unit and $255-per-square-foot.

The firm’s Victor Sozio, Shimon Shkury, Michael A. Tortorici and Matthew Lev represented the seller, 71-15 65th Street LLC. They also procured the buyer, a group led by Rockabill Development.

Home to eight primary and secondary schools, Glendale is poised for vigorous development in the years to come. Locals in the residential-heavy region benefit from an array of retail outlets, such as the Shops at Atlas Park, a major shopping center with a tenant roster including Starbucks, Forever 21, Foot Locker and Regal Cinemas.

The Glendale Multifamily Portfolio, located on the border of Ridgewood and Glendale, is within walking distance to the Fresh Pond Road station on the M subway line.

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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).

  • ◦Sale/Acquisition