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

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

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

The Sit-Down

Piano Man: Peter Von Der Ahe of Marcus & Millichap

peter von der ahe - credit will ohare

Peter Von Der Ahe is Marcus & Millichap’s top-producing multifamily agent in Manhattan, earning a steady slot in the ever-changing list of New York City’s top brokers. He has brokered more than $730 million in sales during his career, and $360 million of that changed hands in the past three years alone. Since joining the Read More

Postings

Ballroom Waltz: A Minute-By-Minute Account of Last Night’s REBNY Gala

REBNY Ballroom final

Thursday’s Real Estate Board of New York gala packed an estimated 2,400 guests into the Hilton New York’s overstuffed Grand Ballroom—an increase from last year by about 200. The Commercial Observer walked the room, hobnobbed with brokers and landlords and taste-tested a dinner of steak and potatoes while washing it all down with a few stiff drinks. Staff Reporters Karsten Strauss and Al Barbarino get the inside dish.

Read More

Sales Beat

Marcus & Millichap Arranges $8.9 M Sale of Washington Heights Building Near Medical Community Epicenter

1090 St. Nicholas Avenue

Marcus & Millichap has arranged the $8.9 million sale of a six-story, 42-unit elevator building at 1090 St. Nicholas Avenue in Washington Heights, positioned in a pocket of the neighborhood anchored by a number of medical institutions.

The buyer, an undisclosed local investment firm, will continue to run the residential, mostly rent stabilized apartments and retains the Metropolitan Center for Mental Health as a tenant in the basement-level commercial space. Read More

Sales Beat

Marcus & Millichap Arranges $3M Hell’s Kitchen Sale

458 West 50th Street

Real estate brokerage Marcus & Millichap has arranged the sale of a four-and-a-half-story walk-up building at 458 West 50th Street in Hell’s Kitchen for $3 million, The Commercial Observer has learned.

The 4,923-square-foot property features six units, including a one-bedroom penthouse with a balcony and a first floor two-bedroom with a garden.  The rest are full floor, one-bedroom apartments. Read More

Sales Beat

Marcus & Millichap Arranges $5.1M Upper West Side Sale

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Marcus & Millichap has arranged the $5.1 million sale of a 6,270-square-foot multifamily building at 31 West 87th Street, which sat on the market for two years before the firm was called in, The Commercial Observer has learned.

The five-story building is located in the Upper West Side, just steps from Central Park, between Central Park West and Columbus Avenue – among the selling points that the firm didn’t shy away from when arranging a competitive bid for the property, hashed out between a handful of investors with their eyes on the coveted neighborhood. Read More

Sales Beat

Stellar Management Scoops 26 Vandam Street in Air Rights Play

26 Vandam Street

Larry Gluck’s Stellar Management has purchased an apartment building at 26 Vandam Street for $6.1 million in a play to add air rights to its undertaking at One SoHo Square.

Gluck plans to tack the 15,625 square feet of air rights onto the 80,000 square feet of new office penthouse space being added to neighboring 161 Sixth Avenue and 233 Spring Street.

“Because the air rights are essentially unusable towards the immediate property, Stellar Management will use them for the huge redevelopment of the office buildings next door — that will be a huge win for them,” said Peter Von Der Ahe, a first vice president of investments at Marcus & Millichap, who brokered the deal along with Joe Koicim, a vice president of investments, and David Lloyd. Read More

Sales Beat

Marcus & Millichap Arranges Sale of Two Chelsea Buildings for $7.2M

368 8th Avenue

Real estate brokerage Marcus & Millichap has arranged the sale of two apartment buildings in Chelsea for a combined $7.2 million, with both properties going to 1031 exchange buyers, The Commercial Observer has learned.

The buildings, at 368 8th Avenue and 311 West 29th Street, bring the private investors who purchased them an opportunity to realize significant upside through upgrades and renovations, brokers at Marcus & Millichap said. Read More

Sales Beat

Marcus & Millichap Arranges $3.5M Sale of Chelsea Townhouse

402 West 22nd Street

Marcus & Millichap has arranged the sale of a five-story, 4,788-square-foot townhouse at 402 West 22nd Street in Chelsea for $3.5 million, The Commercial Observer has learned.

The property consists of a total eight units:  six studio apartments, a single one-bedroom duplex, and a three-bedroom duplex on the ground floor.

The building is situated in the heart of West Chelsea, just off the corner of West 22nd Street and Ninth Avenue, one block from the Chelsea Highline, two blocks from the A-Line Subway, and a short walk from Chelsea Piers. Read More