Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of three adjacent, mixed-use apartment buildings located at 504–508 E 12th Street in New York. The properties sold for $19,500,000 and were managed by Joe Koicim, Logan Markley, Zan Colin, and Matt Berger of the New York Multifamily team.
“Our team successfully navigated the obstacles presented in today’s rapidly changing market to achieve the highest possible sales price for our seller,” said Joe Koicim. “The buyer, a prominent, locally run family office, will add significant value by repositioning the apartments upstairs and a portion of the retail space to maximize the asset’s full potential.”
Koicim, Markley, Colin, and Berger, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the institutional seller and procured the buyer, a private investor.
