Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 640-644 Tenth Avenue, a 27-unit mixed-use property near Hudson Yards in New York.
“The property benefits from an attractive tax Class 2B status and offers significant future upside through free-market tenancy,” said Christopher Dintrone. “Every deal presents its own challenges, and we procured a local New York City purchaser who was able to overcome them and facilitate a successful close.”
Dintrone, Joe Koicim and Logan Markley, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a private investor.
“This transaction is a testament to our team’s deep market knowledge, strong industry relationships and unwavering commitment to delivering seamless execution for our clients,” added Koicim.
The mixed-use property consists of 24 apartments and three commercial spaces, covering 17,932 square feet across three contiguous buildings. Each building includes eight apartments and one retail space. The property is in Midtown West, located at the southeast corner of Tenth Avenue and West 45th Street, two blocks from the A, C, and E subway lines. It is within walking distance of Hudson Yards, Times Square, and Midtown Manhattan.
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.
