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September 25, 2020 Comments Off on Ariel Lists Conversion Opportunity on UWS Views: 413 New York News, Uptown/Bronx New York

Ariel Lists Conversion Opportunity on UWS

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Ariel Property Advisors has listed 102 W. 107th St., a residential conversion opportunity with an existing parking garage on the Upper West Side. The property, listed for $12 million, consists of an approximately 75-by-101-foot lot with a four-story, 29,700-square-foot building currently operating as a parking garage.

Brokers for the listing include EVP Victor Sozio, president Shimon Shkury, EVP Michael Tortorici and investment sales director Mark Anderson.

The current tenant is operating the garage on a month-to-month basis. The building can also be delivered vacant, presenting a unique opportunity for owner-users and immediate conversion potential for developers. The high-density zoning on the property provides the possibility of residential use.

“This is a rare opportunity for a buyer to acquire an income-generating property with development potential in a prime location near famous parks, world-renowned healthcare, prestigious higher education and historic New York City landmarks,” said Sozio.

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