Marcus & Millichap Arranges $17M Upper West Side Sale
Al Barbarino Feb. 13, 2014, 7:45 a.m.
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.
“Prior to the sale, The Selkirk was owned and operated by a local real estate family for 40 years,” Mr. Edelstein added, in a statement announcing the sale. “This sought-after asset is a popular residence for young professionals and families attracted to living on Manhattan’s Upper West Side.”
Marcus & Millichap concurrently announced that it arranged the sale of Avalon Valley, a 268-unit garden-style apartment community in Danbury, Conn. for more than $53 million.
IPA’s Steve Witten, Victor Nolletti, Adam Mancinone and Blake Barbarisi, who work out of Marcus & Millichap’s New Haven offices, advised the seller, AvalonBay Communities Inc. The buyer was Ergs Konover/Outlook Holdings LLC.
The buyer and seller of the Upper West Side property were not disclosed.