Art Weigold Sells West Harlem Multifamily Portfolio For $11.6M With Brokers Victor Sozio & Courtney Lee

An affordable housing multifamily portfolio in West Harlem has been sold for a total of $11,600,000. The portfolio includes properties located at 1453 & 1732 Amsterdam Avenue, 510 West 136th Street, 507, 509, 529 & 625-27 West 135th Street. The transaction involved a total of 113 units, with a price per unit of $102,654. The total square footage of the portfolio is 101,754, resulting in a price per square foot of $114. The sale was facilitated by Ariel Property Advisors, with Victor Sozio and Courtney Lee serving as the brokers representing the seller, Art Weigold.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,600,000
• Units: 113
• Price per Unit: $102,654
• Total Square Footage: 101,754
• Price per Square Foot: $114

This sale represented the preservation of affordable housing in a dynamic West Harlem location. The properties are subject to various income and rent restrictions that will remain in place for over 30 years. Ariel Property Advisors, led by Victor Sozio, is actively involved in transactions throughout New York City, with numerous multifamily units under contract. For more information or to contact the Ariel Property Advisors team, please use the following contact details:

Victor Sozio
Phone: 212-544-9500 ext 12
Email: [email protected]

Courtney Lee
Phone: 646-738-4002
Email: [email protected]