NEW YORK, NY—Ariel Property Advisors has announced the sale of a house of worship at 612 West 180th Street in the Washington Heights section of Upper Manhattan. The property sold for $3.7 million.
The sales team of Victor Sozio, Michael A. Tortorici, Jesse Deutch, and Marko Agbaba represented the seller, a local church. Cesar Portilla of Keller Williams Realty represented the buyer, The Universal Church, which has locations throughout the United States.
The property consists of a 12,631-square-foot building with a spacious sanctuary that seats 670 guests, and includes air rights that will allow for an expanded structure with approximately 25,800 buildable square feet as-of-right.
“The price, which equates to nearly $300 per square foot, is indicative of the impressive Northern Manhattan demand we’re seeing from religious groups and other non-profits,” said Victor Sozio, vice president of Ariel Property Advisors. “We’re handling many assignments from such organizations and are consistently receiving high demand from other end-users, not just developers.”
The structure at 612 West 180th Street is located just steps away from the 1 train on W 181st and St. Nicholas Avenue, and the A train on W 181st and Fort Washington Avenue. In close proximity to Bennett Park, Columbia Presbyterian Hospital, Yeshiva University, and the retail corridors lining Broadway and St. Nicholas, the property offers easy access to institutions, education, business, and entertainment in the Heart of Washington Heights.
Ariel Property Advisors is a New York City investment property sales firm with an expertise in the multifamily market. The firm also produces a number of research reports including the Multifamily Month in Review: New York City; Multifamily Quarter in Review: New York City; Multifamily Year in Review: New York City; and semi-annual sales reports on Manhattan, Northern Manhattan, Brooklyn, Queens, and the Bronx. More information is available at arielpa.com.