NEW YORK CITY-Ariel Property Advisors reports it has brokered the sale of 500 Fort Washington Ave., a 56-unit corner walk-up building in Washington Heights, for $8.62 million to an unnamed private investor.
The six-story, 44,295 square foot building contains 55 apartments—11 one-bedrooms, 35 two-bedrooms, and 9 three-bedrooms—and one office unit. The property also features a super's unit in the basement, a courtyard, and multiple entrances.
The Ariel Property Advisors team of Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Deutch served as exclusive agents for the seller, a private investor, and identified the buyer.
“The area surrounding Bennett Park where this property is located is one of the most desirable areas in Washington Heights,” states Sozio, vice president of Ariel Property Advisors. “This property has been well maintained and offers a considerable amount of upside in its rents.”
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