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Spending Publications / Real Estate Weekly / May 4, 2011 issue

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Real Estate Weekly Ariel lists UWS portfolio

May 4, 2011 | Comments

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Ariel Property Advisors has been retained to sell the largest portfolio of Upper Manhattan buildings below 125th Street to hit the market in two years, Shimon Shkury, president, announced.

The West 116th Street Portfolio, a package of four mixed-use buildings in the vicinity of Central Most Recent Spending Publications Harlem's Seventh and Lenox Avenues, is listed for $20 million.

"With the vast majority of recent uptown transactions taking place above 125th Street, the Real Estate Weekly size, quality and location of The West 116th Street Portfolio truly stands out," said Shkury. CPA Journal, The "We've already had a great deal of investor interest in the portfolio." Kentucky Banker Magazine The portfolio consists of two elevator buildings, located at 1917-19 Seventh Avenue and 120- Petroleum Accounting and Financial 26 West 116th Street, and two walkup buildings, located at 110 West 116th Street and 110 St. Management Journal Nicholas Avenue. Spanning approximately 97,000 s/f in total, the portfolio consists of 82 residential units and 11 retail units. Global Perspectives on Accounting Education The buildings are located in the vicinity of the West 116th Street corridor between Lenox Avenue (aka Malcolm X Boulevard) and the intersection of 7th Avenue (aka Adam Clayton Most Popular Spending Articles Powell Boulevard) and St. Nicholas Avenue.

"These assets offer a rare opportunity to establish a strong foothold on one of Harlem's busiest Accounting for software development and most convenient retail corridors," said Victor Sozio, vice president of Ariel Property costs Advisors, who is heading up the effort. Converting a corporation to an LLC "Investors can also capitalize on the tremendous amount of upside in the residential rents." A Comparison of U.S. Auditing Standards with International COPYRIGHT 2011 Hagedorn Publication Standards on Auditing COPYRIGHT 2011 Gale, Cengage Learning Ten stupid things that small property owners do MoneyWatch Talkback Ethics, Professional Judgment, and Share your ideas and expertise on this topic Principles-based Decision Making Under IFRS Please add your comment: Most Popular Spending Publications You are currently: a Guest | Log in Real Estate Weekly RE: Ariel lists UWS portfolio CPA Journal, The Kentucky Banker Magazine Petroleum Accounting and Financial Management Journal

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