NEW YORK, NY – HFF announced today that it has closed the sale of Arias Park Slope (top centered photo), a 95-unit, Class A multi-housing community with 6,121 square feet of ground floor retail in Brooklyn’s Park Slope neighborhood.
HFF marketed the property on behalf of the seller, The Iconic Group. Invesco Real Estate, on behalf of an institutional client, purchased Arias Park Slope for an undisclosed amount free and clear of existing debt.
Completed in 2011, Arias Park Slope is a 12-story building with studio, one- and two-bedroom units averaging 764 square feet each. Community amenities include a 24-hour attended lobby, health club, yoga room, laundry facility, pet spa, bike storage, lounge with kitchen and bar, billiards, plasma tv and fireplace, and a courtyard with a putting green.
The property also features “Arias Club 360” , which has 360 degree views of Brooklyn and Manhattan, private cabanas, sunbeds, a fire pit with seating, outdoor shower, grill, bar and dining area.
Arias Park Slope is located at 150 4th Avenue close to Prospect Park and the D, M, N, and R trains at Pacific Street, the 2, 3, 4, 5, B and Q trains at Atlantic Avenue and the F train at Fourth Avenue/9th Street.
The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios (top right photo) and Jose Cruz (middle left photo) and directors Kevin O’Hearn (bottom right photo) and Jeffrey Julien.
“Arias Park Slope is the only building of its caliber in the neighborhood and has been well received by the market; achieving a stabilized occupancy within months of completion,” said Scandalios.
Contacts:
ANDREW G. SCANDALIOS JOSE R. CRUZ
HFF Senior Managing Director HFF Senior Managing Director
(212) 245-2425 (973) 549-2000
Kristen M. Murphy, Associate Director Marketing, (713) 852-3500, krmurphy@hfflp.com
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