Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of a three-property, 104-unit multifamily portfolio in White Plains, New York. The portfolio sold for $45 million, which equates to approximately $433,000 per unit.
“The new owner’s strategy is to hold the properties long term,” says Victoria Fisher of Marcus & Millichap’s Westchester office. All three assets were constructed in 2015 in downtown White Plains.
Fisher and Marcus & Millichap’s Jim Evans represented the seller, the properties’ developer, Lighthouse Living LLC and The Daten Group LLC. Fisher and Evans also procured the buyer, a Westchester–based investor.
The properties are:
- The Dylan, a four-story apartment building located at 42 Waller Ave.
- La Gianna, a five-story property located at 10 Dekalb Ave.
- The Reed, a three-story building located at 115 N Broadway
About Marcus & Millichap
With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.
