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 $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

Cover1

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

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

Sales Beat

Springhouse Pays $16M for Second Brooklyn Acquisition in Recent Months

105 Grand Avenue

Springhouse Partners has purchased 105 Grand Avenue, a 38,500-square-foot, newly-constructed residential building in the Clinton Hill section of Brooklyn for $16 million, sources tell The Commercial Observer.

The sale was an off-market deal brokered by Sean Lefkovits, Joe Koicim and Peter Von Der Ahe of Marcus & Millichap; and the seller was a group of undisclosed Brooklyn-based investors that decided to part ways, sources said. Read More