NEW YORK CITY — Marcus & Millichap has completed two multifamily sales in Manhattan, New York City, for a total of $6.65 million. First, the firm completed the sale of a five-story property, located at 493 Second Ave., for $3.85 million. The building contains 16 residential units, two commercial units and 9,135 square feet of developable air rights. Rents for both types of units are currently below market levels. Peter Von Der Ahe and Joseph Koicim of Marcus & Millichap’s Manhattan office represented the seller, a Hong Kong-based family, as well as the buyer, a prominent New York City-based landlord. Additionally, Marcus & Millichap completed the sale of a nine-unit, brownstone apartment building, located at 131 W. 80th St. on the Upper West Side, for $2.8 million. The four-story building contains five rent-controlled units, three rent-stabilized units and one free-market unit. Koicim represented the buyer, a New Jersey-based family. Von Der Ahe and Scott Edelstein, also of Marcus & Millichap, represented the seller, a private investor.

Marcus & Millichap brokered the sale of a 16-unit multifamily building located at 493 Second Ave. in Manhattan, New York City.
MARCUS & MILLICHAP COMPLETES TWO MULTIFAMILY SALES FOR $6.65 MILLION
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