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Ariel Property Advisors.

Ariel Property Advisors has announced the sale of two properties in Queens totaling $4.8 million:

* A development site with approved plans sold at 14-23 Broadway in Astoria for $1.95 million. The 25-foot by 136-foot vacant lot allows for 13,620 buildable square feet of mixed-use or residential development. Daniel Wechsler, Michael A. Tortorici, Howard Raber, Marko Agbaba, and Victor Sozio represented the seller and procured the buyer, both real estate investment groups.

* A retail site with future development potential sold at 17542 Hillside Avenue between Edgerton Boulevard and 175th Street in Jamaica for $2.85 million. The 100-foot by 100-foot lot includes a 2,054-square-foot building that is leased on a triple net basis to a franchisee of KFC Corp., and offers a total of 40,000 buildable square feet for future development. Michael A. Tortorici, Daniel Wechsler, Marko Agbaba, and Victor Sozio represented the seller, a real estate investment' firm, and procured the buyer, a private investor.

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Title Annotation:SALES; marketing of real estate
Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1USA
Date:Mar 18, 2015
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