Ariel Property Advisors, a New York City brokerage that has long specialized in investment sales, is turning to lending as a new line of business.
According to a TRD ranking of the top investment sales firms in 2014, Ariel Property Advisors came in at No. 3 in the Bronx with $229 million in sales and No. 14 citywide with $528 million. Earlier this fall, the firm began a new division called Capital Services and hired Paul McCormick, formerly of Uniondale-based Arbor Commercial Mortgage, to oversee it.
The Capital Services team will broker financing deals for a wide range of properties: multifamily, commercial, retail and development sites. Ariel has a total of 40 employees in its Midtown East office.
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