Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of York Farm Estates, a 77-unit townhome community in Yorktown Heights, New York.
“The sale of York Farm Estates highlights the sustained investor demand for well-located, free-market, value-add multifamily opportunities in desirable suburban markets,”
said Matthew Gault. “Situated in Westchester County, a high-barrier-to-entry location, the property had not traded hands in nearly four decades, making it a rare and highly sought-after offering. With substantial upside through unit renovations, the asset presented a compelling investment thesis aligned with today’s market trends.”
Gault, along with Marcus & Millichap’s Seth Glasser, Michael Turkiewicz and Michael Fusco, exclusively marketed the property on behalf of the seller, HVT Realty, and procured the
buyer, Westchester Management LLC.
“The scarcity of similar opportunities drove a competitive bidding process with multiple qualified offers, highlighting strong demand for suburban multifamily investments that offer long-term growth and stability,” added Gault.
Built in 1996, York Farm Estates is a fully occupied apartment community at 1870 Baldwin Road in suburban northern Westchester. The property spans eight acres and offers one-, two- and three-bedroom apartments, with an average unit size of 847 square feet. It is minutes from the Taconic State Parkway and near Interstates 84 and 287, providing access to nearby retail, dining and entertainment, including Mohansic Golf Course, CVS, Dunkin’, TJ Maxx and Trader Joe’s.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
