Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $10.4 million sale of a 34-unit, 17,110-square-foot multifamily property on the Upper East Side in New York City.
“This was a rare opportunity to acquire an 82 percent free-market multifamily asset on the Upper East Side of Manhattan. We leveraged our long-term relationships with foreign investors to match the right buyer to the deal to close at $10.4 million for the seller,” said Joe Koicim of the NYM Group of Marcus & Millichap in Manhattan. “This is the third deal we’ve closed with foreign investors in the past 45 days.” Koicim and Marcus & Millichap’s Logan Markley represented the seller and procured the buyer.
Built in 1920, the five-story building is located at 234-236 E. 88th Street in Yorkville on the Upper East Side. The property is two blocks from the 86th Street station, with access to the 4, 5 and 6 subway lines, and is near the Q line on Second Avenue. It is also close to Carl Schurz Park, the East River Esplanade, Whole Foods Market, Target, The Dalton School and Hunter College.
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.
