TWO MANHATTAN APARTMENT BUILDINGS SELL FOR $12M

by admin

NEW YORK CITY — Marcus & Millichap has arranged the $12 million sale of two five-story apartment buildings totaling 40 units on Manhattan’s Upper East Side. The buildings are located at 234 East 88th St. and 518 East 88th St. The sale price equates to $300,000 per unit. Peter Von Der Ahe, Joseph Koicim and David Lloyd, all in Marcus & Millichap’s Manhattan office, represented the seller, The Orbach Group LLC. Von Der Ahe, Koicim and Lloyd also represented the buyer, Aimco. Of the 40 total apartments, 33 are one-bedroom units, three are two-bedroom apartments and four are studios.

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