Ariel Property Advisors closed the sale of an 81-unit rent-stabilized multifamily property spanning 63,935 square feet in Washington Heights at 75-89 Wadsworth Terrace for $9.25 million.
The six-story building, which benefited from a J-51 tax abatement for the next 20 years, underwent substantial renovations in 2010 and includes roof-mounted solar panels.
Situated on a block-through lot with nearly 300 feet along Wadsworth Terrace, it offers access to Broadway, Fort Tryon Park and Highbridge Park. The Ariel team, led by Victor Sozio, Shimon Shkury, Alexander Taic, and Jake Brody, represented the seller.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.