MARCUS & MILLICHAP BROKERS $13 MILLION APARTMENT BUILDING SALE

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NEW YORK CITY — Marcus & Millichap has brokered the $13 million sale of Kent Arms Apartments, an 80-unit multifamily property located at 85-02 139th St. in the Briarwood neighborhood of Jamaica, Queens. The six-story apartment building contains one- and two-bedroom units, as well as indoor parking. The property features two commercial spaces, one of which is currently vacant and the other that is leased until 2011. Peter Vassiliou and John Stewart of Marcus & Millichap’s Manhattan office represented the seller, Kent Properties Co., as well as the buyer, 85-02 139th Realty LLC. The property traded at a per unit price of $162,500.

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