IPA Sells Pre-War Upper West Side Manhattan, NY Apartment Building for $17.1 Million

  

The Selkirk Apartments, 308 West 82nd Street, Upper West Side, Manhattan, NY

  

Scott Edelstein

NEW YORK, NY, Feb. 12, 2014 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of  The Selkirk, a 13-story, 49-unit apartment building on Manhattan’s Upper West Side.

The $17.1 million sales price equates to $350,000 per unit and $600 per square foot.

Peter Von Der Ahe

            IPA’s Scott Edelstein, Peter Von Der Ahe and Seth Glasser advised the seller, a private investor. The buyer is also a private investor.

            “Prior to the sale, The Selkirk was owned and operated by a local real estate family for 40 years,” says Edelstein. “This sought-after asset is a popular residence for young professionals and families attracted to living on Manhattan’s Upper West Side.”            

            “The current configuration of four studio apartments per floor gives the new owner many options, including reconfiguring the units to larger ‘family-style’ layouts and converting them to condominiums or co-ops over time,” adds Von Der Ahe.

Seth Glasser

            Built in 1906, The Selkirk is located at 308 West 82nd St. near local schools and the Broadway retail corridor. Direct access to midtown Manhattan, Lincoln Center, Columbia University and Riverside Park via the 1 Broadway-Seventh Avenue Local subway is nearby at Broadway and 79th Street and Broadway and 86th Street.     

 For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716