Ariel Property Advisors has arranged the $75 million sale of Manhattan Valley Apartments, a two-building multifamily portfolio on Manhattan’s Upper West Side. The properties are located at 200 Manhattan Ave. and 133 W. 104th St. in the Manhattan Valley neighborhood. The buyer was not disclosed.
The portfolio totals 143,551 gross square feet and is composed of 126 Project-Based Section 8 voucher units. According to Ariel, the concentration of units within the two-building package supports streamlined management and operational efficiencies for ownership.
Founding partner Victor Sozio, president and founder Shimon Shkury and director of research and sales Remi Mandell of Ariel Property Advisors arranged the sale on behalf of the seller. The seller’s identity was not disclosed, and no additional transaction terms were provided.
Situated between Central Park West and Broadway, Manhattan Valley Apartments offers residents immediate access to Central Park as well as nearby restaurants, retail destinations and other neighborhood attractions. Ariel noted that the surrounding area is recognized for its tree-lined streets, classic brownstones and mid-rise residential buildings, characteristics that contribute to its position as one of Manhattan’s more sought-after residential enclaves.
The Section 8 designation for the 126 units indicates that the portfolio is fully tied to Project-Based voucher contracts. While specific details of those contracts were not disclosed, the concentration of subsidized units within a single, contiguous portfolio underscores the property’s role within the local affordable housing stock on the Upper West Side.
No information was released regarding the buyer’s plans for the properties, the duration of the existing Section 8 contracts or any contemplated capital improvements. The transaction details beyond the headline price, square footage and unit count were not made public in the announcement.
