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

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

9/25/2018

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.

0 Comments

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Your email address will not be published.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:

Jeff Bezos Has An Answer for the Future of RE Tech

All participants in commercial real estate are hunting for a competitive advantage. Whether you are an investor, broker, or other player, you have probably explored technology to improve your success. And technology is a great tool. But, there is much more to the story.


When talking about the future, you may be surprised to know that Jeff Bezos advised us to “focus on what doesn’t change.”

read more

NYM Monthly Metrics – June 2019

June was a monumental month for the entire NYC multifamily industry as owners, operators and professionals digest the impact of the new rental laws. The NYM team is conducting market research in order to give our valued clients a better understanding of what this means for the market and all NYC multifamily owners. I will be in touch with our unique insight as it becomes available.

Despite the shake up, we had an active month. In June we had $212,394,573 in activity at NYM! This month, we closed 11 deals for a total of $53,494,573. We also listed 16 properties totaling $133,275,000.

read more