Ariel Property Advisors has sold Logan Plaza, a nine-story, 130-unit, low-and moderate-income building constructed in the 1980s.
Located at 1423-25 Amsterdam in West Harlem, the property sold for $17 million.
Shimon Shkury, Victor Sozio, and Michael Tortorici served as exclusive agents for the seller, an affordable housing group, and identified the buyer, a private investor.
Logan Plaza, which was the first newly constructed rental project to be developed in Harlem without federal assistance in more than a generation, is governed by a regulatory agreement with the Housing Assistance Corporation (HAC), a subsidiary of the city’s Housing Development Corporation (HDC).
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