Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 25-unit apartment property located in New York. The asset sold for $12,050,000.
“My team and I were able to procure a buyer from overseas who closed on the property all cash, no bank financing,” said Joe Koicim “While some of the long-term owners are diversifying by selling and buying outside of New York City, we are seeing an influx of new capital coming to Manhattan for these types of assets.”
Joe Koicim, Shaun Riney, Peter Dodge, and Logan Markley in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Koicim, Riney, Dodge and Markley.
The Property is located at 156 Sullivan St. in New York’s Sullivan-Thompson historic district with R7-2 zoning. The building’s 25 units are a mix of one and two-bedroom apartments. The property is located between Greenwich Village and Soho just a few blocks from NYU and Washington Square Park.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
