Newcomer Ariel expects to double sales volume on strength of rental market

TRD New York /
Aug.August 26, 2013 10:50 AM

Ariel Property Advisors has come far in two years, growing from a staff of 10 to 40 and handling $250 million in business last year.

The investment-property sales firm, which specializes in commercial and rental-apartment buildings in the city’s outer boroughs, is on pace to double its sales volume this year, founder Shimon Shkury said. It has three Manhattan deals in the works, ranging from $30 million to $50 million apiece. Below 96th Street, competition is stiff among Ariel’s adversaries, which include Cushman & Wakefield, Eastern Consolidated, CBRE and Massey Knakal, where Shkury served as a senior broker before branching out on his own. Massey Knakal brokered $2 billion in sales last year, the Wall Street Journal said, citing CoStar data.

But Ariel executives told the Journal that investors’ growing interest in rental apartments will help to boost the firm’s market share. They aim to broker more sales of retail condominiums and for development rights, the newspaper said. [WSJ]Mark Maurer


Related Articles

arrow_forward_ios
Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post)

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

EXCLUSIVE: CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar buying Ten-X for $190M

CoStar buying Ten-X for $190M
CEO Andrew Florance (Credit: CoStar via YouTube)

CoStar sees net income jump 32% in year marked by acquisitions

CoStar sees net income jump 32% in year marked by acquisitions
CoStar CEO Andy Florance and RentPath CEO Marc Lefar (Credit: Getty Images)

CoStar acquires troubled rental listings firm for $588M

CoStar acquires troubled rental listings firm for $588M
The total dollar value of deals in 2019 dropped 40 percent from the year before to $6.91 billion (Credit: Unsplash)

Multifamily market had its worst year since 2011

Multifamily market had its worst year since 2011
Close to 100 employees were given notice on Monday morning (Credit: iStock)

Ten-X Commercial lays off nearly half its workforce

Ten-X Commercial lays off nearly half its workforce
Moody’s Analytics' Keith Berry and Empirical CRE Doug Curry (Credit: LinkedIn, iStock)

Moody’s dumps stake in Doug Curry’s data firm

Moody’s dumps stake in Doug Curry’s data firm
221 East 71st Street and 60 East 12th Street (Credit: Google Maps and iStock)

Death march for NYC’s multifamily market continues

Death march for NYC’s multifamily market continues
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...