Ariel Property Advisors has seen a significant uptick in activity over the past six months of 2021, growing the firm and meeting pre-pandemic benchmarks in investment sales and financing wins for its diversified base of clients.
“There are significant tailwinds right now as increasing economic activity is driving more bullish investor activity and more enthusiastic lender appetite,” said Shimon Shkury, founder and President, Ariel Property Advisors. “There is greater clarity and certainty in the market than there has been since March 2020 and we look forward to continued growth for Ariel, for New York City and for the wider commercial real estate market.”
Ariel is self-funded, mid-size and structured as a partnership, with Shkury seeing value in admitting several new partners in the near future. The firm’s platform is uniquely positioned for talented professionals who want to add value with the utmost integrity and collaboration. “We are looking for people who are or can become leaders within our business and within their communities,” said Shkury.
Looking ahead, with low interest rates and a bolstering economic environment, the Ariel team is on pace to close $1 billion in both Capital Services and Investment Sales transactions. In addition to deal volume, Ariel’s brokerage teams are leveraging the market’s long-term confidence to land bigger deals, including Academy Gardens, which recently sold for $91 million.
“The pandemic was a seeding ground for several large transactions that materialized this year,” said Victor Sozio, Executive Vice President, Investment Sales, who led the recent Academy Gardens closing. “Recent numbers and activity indicate that this momentum will continue into an active 2022 as well.”
During Ariel’s steady churn of activity over the last six months, the Investment Sales division has capitalized on tremendous market enthusiasm for multifamily properties and, in particular, affordable housing properties. The team’s arrangement of the sale of the Johanna Apartments at 104-110 West 144th Street in Harlem for $30 million is a prime example of the growth anticipated in this asset sector. Overall, the firm is targeting to close on more than 4,000 units of affordable housing in just the next few months, compared to the approximately 6,000 multifamily units that were transacted across New York City in total in the first half of 2021.
Meanwhile, continued low interest rates and high lender appetite have helped to drive a borrower-friendly financing environment. Ariel’s Capital Services team has already had its most active year, using its analytical, data-based approach to deliver bespoke, creative solutions for a growing roster of clients across the U.S.
The competitive landscape for lenders is a great advantage for Ariel’s clients, as is Ariel’s extensive network of relationships that enables advantageous capital strategies. In June, for example, the firm closed $43 million in cash-out transactions for a single client in Manhattan and had 16 term-sheets from qualified lenders competing on every single aspect of the loans.
The overall increased appetite for lending and investment is an encouraging sign for continued market growth in Q4 and into 2022. As New York City and the US continue to reopen and gain further stability, Ariel is looking forward to serving its clients and communities amid an optimistic and active market.
Please follow Ariel Property Advisors on social media for the latest transactions and the most up-to-date research on New York’s investment sales market—and don’t hesitate to reach out to discuss recent market trends and comparables or to discuss your own acquisition, disposition and financing needs with Ariel’s advisors.
About Ariel Property Advisors
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc
