Sales Beat

Marcus & Millichap Arranges $6.4M Upper East Side Sale

319 East 90th Street.

Marcus & Millichap has arranged the $6.4 million sale of a 9,000-square-foot, five-story residential walk-up building at 319 East 90th Street on the Upper East Side, Commercial Observer has learned.

The building, located between First and Second Avenues, contains 20 apartments—17 of them free market—with 12 one-bedrooms and eight studio units. Read More

Sales Beat

Sunset Park Development Sells for Nearly $20M

Sunset

Marcus & Millichap has arranged the sale of a 123,785-square-foot, two-story industrial building at 150 52nd Street in Sunset Park, Brooklyn for $19.5 million.

The lot currently holds an industrial building with seven commercial tenants and a 30,631-square-foot open parking lot, but it carries with it 201,930 square feet of total buildable air rights. The demand for development opportunities in the area led to a sale price that came in $2.7 million over the asking price, brokers said. Read More

Sales Beat

Marcus & Millichap Sells Midtown Development Site for $14.3M

1009-1019 Second Avenue

Marcus & Millichap has arranged the $14.3 million sale of a two-story commercial building at 1009-1019 Second Avenue in Midtown East, Commercial Observer has learned.

The 6,205-square-foot property features 42 feet of frontage on Second Avenue between 53rd and 54th streets. Two commercial tenants – Midtown 1015 and Sessions House – currently operate within the property, Read More

Sales Beat

Prime Williamsburg Property Sold for Likely Condo Conversion

77

Marcus & Millichap has arranged the sale of a six-unit multifamily property at 77 Berry Street in Williamsburg, Brooklyn for $2.6 million, where the new buyer will likely create a boutique condo building.   

At $692 per square foot, the sale was a record for a frame exterior building (with a six- to eight-family capacity) in the neighborhood, said Marcus & Millichap’s Mike Salvatico, who arranged the sale. Read More

Sales Beat

Marcus & Millichap Arranges $5M Chelsea Sale

353 West 20th Street.

Marcus & Millichap has arranged the $5 million sale of a 3,884-square-foot townhouse at 353 West 20th Street in Chelsea, Commercial Observer has learned.

It’s not every day that a 23-foot-wide property hits today’s hot Chelsea market, brokers handling the sale said, noting that the seller “meticulously managed” the property for two decades before deciding to cash in on their investment. Read More

Sales Beat

Marcus & Millichap Arranges $17M Upper West Side Sale

(Photo. streeteasy)

Marcus & Millichap’s institutional property advisors division has arranged the sale of The Selkirk, a 13-story, 49-unit apartment building on Manhattan’s Upper West Side, at 308 West 82nd Street, for $17.1 million.

Four studio apartments per floor gives the new owner the option to reconfigure the units to larger “family-style” layouts and convert them to condominiums or co-ops over time, said Peter Von Der Ahe, who represented the seller with Seth Glasser and Scott Edelstein.

Read More

Lessons from the Street

The Database vs. the Rolodex

Long gone are the days of the Rolodex, at least for most of us

I’m sure there are a few dinosaurs left out there from the Triassic period, but most of us have moved on and come into the 21st century. Around the turn of the last century, there was dramatic upheaval in the real Read More

Lessons from the Street

Do You Swim With The Sharks?

Are you in a shark tank right now?  Do you have arrows in your back from fellow agents always meddling in your business?  Do you lock your desk or your private office when you leave for the day?  Do you turn papers over on your desk when certain colleagues approach?  Has someone stolen something off Read More