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MARCUS & MILLICHAP COMPLETES $8.7 MILLION NYC RETAIL SALE

NEW YORK CITY — Marcus & Millichap has completed the sale of a retail building located at 407 Park Ave. in New York City for $8.7 million. The two-story building includes 29,450 square feet of air rights. Upscale men's clothing story Stefano Ricci occupies the entire building. Adelaide Polsinelli and Steve Siegel of Marcus & Millichap's Manhattan office represented the seller, 407 Park LLC. Glen Kunofsky and James Ventura, also of Marcus & Millichap, represented the buyer, Land Finance Corp.

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