M&M ARRANGES SALE OF 10-UNIT APARTMENT BUILDING

NEW YORK CITY — Marcus & Millichap has arranged the sale of 538 East 89th Street, a 10-unit apartment building located in New York City. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap marketed the property on behalf of the seller, a private investor. The asset sold above the original asking price of $6.1 million and closed at more 14 times the gross rent, according to Marcus & Millichap.