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Prices Are Prompting Sales

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Prices Are Prompting Sales

Year-over-year gains for the six months that ended Sept. 30 are encouraging owners to bring more properties to market, says Ariel Property Advisors president Shimon Shkury (third from left, with partners Victor Sozio, Ivan Petrovic, and Michael Tortorici). According to Ariel's September Multifamily Month in Review, Brooklyn and Northern Manhattan recorded the greatest price increases; average price per SF rose 34% and 28%, respectively, over the same period last year. In response, Ariel has brought to market eight multifamily and mixed-use properties in Bushwick, Bed Stuy, East Williamsburg, and Flatbush, including a three-building portfolio at 293-295 Grove St and 983 Metropolitan Ave, as well as eight Upper Manhattan multifamily properties, including 61-63 W 108th St, 540-542 W 157th St, and 524-526 W 159th St. Click here for our sponsor's September MFMIR.