Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 329-335 East 9th Street and 516-518 East 13th Street, a 49,513-square-foot, six-building portfolio with five commercial units and 56 apartments in Manhattan’s East Village.
“This was a rare opportunity to acquire a large, 70% free-market portfolio with strong cash flow and nearly seven years remaining of attractive in-place assumable debt,” said Joe Koicim of the NYM Group of Marcus & Millichap in Manhattan. Koicim and Marcus & Millichap’s Logan Markley, Matt Berger, and Zan Colin represented the seller, The Kushner Companies, and procured the buyer, Edifice Partners/Holliswood and JSB Capital Group. “The NYM Group of Marcus & Millichap has successfully closed approximately $200 million in sales for the Kushner Companies over the past year,” added Berger.
The portfolio’s East Village location includes large frontage on East 9th Street and East 13th Street and an abundance of restaurants, nightlife, parks, historical activities, and transportation. Parks within a five-minute walk include Union Square, Tompkins Square Park, Washington Square Park, and Mercer Playground. The Union Square subway is within easy walking distance. The portfolio includes multifamily and mixed-use buildings. Apartments have from one to six bedrooms.
Marcus & Millichap, Inc. (
