$104,135,000 in NYC Sales to Close Out Summer

$104,135,000 in NYC Sales to Close Out Summer


While transaction numbers have generally been lower in NYC, the New York Multifamily team at Marcus & Millichap closed more than $100 million in sales in the back half of summer 2018.

With 18 closed sales this summer across Manhattan and the boroughs and another 26 in contract, it was an active summer.

Our summer saw significant portfolio trades, such as the $15 million sale of the 82-unit property of Fort Independence in the Bronx, and the $17.4 million disposition of the six-building Vision Builders Portfolio in Harlem.

We also closed more than $30 million in transactions in Brooklyn, across price points and property types. Those included  a slew of sales in the $2 to $3 million range, such as 1130 Union Avenue, 148 Atlantic Avenue, and 179 Greenpoint Avenue.

Harlem was also particularly active. In addition to the Vision Builders portfolio sale, our team closed 40 West 127th Street for $11.4 million and 310 Saint Nicholas Avenue.


Submit a Comment

Your email address will not be published. Required fields are marked *

Buy Peter's Book Today! Available on Amazon.

Catch up on our most recent posts here:

50% Stabilized Asset Sells for $8,000,000 in NoLita

New York City’s NoLita neighborhood is a desirable area for multifamily owners because it’s an epicenter of young professionals, high-end stores, and trendy restaurants.

With proximity to surrounding neighborhoods, like SoHo and the East Village, NoLita is a very attractive location for renters.

read more

NYM Monthly Metrics – February 2020

NYM had an active month in February with a total of $275,040,000 in activity! This month we listed 12 properties totaling $134,965,000.

Last month we closed on 1388 Second Avenue for $5,975,000. The building contains 9 residential units and 2 commercial units.

read more