Marcus & Millichap Sells Two Midtown East Multifamily Buildings in Manhattan, NY for $13.3 Million

322 East 59th Street Apartments, Sutton Place, Manhattan, NY

Peter Von Der Ahe

NEW YORK, NY  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of two five-story mixed-use walk-up buildings in Manhattan: 322 East 59th St. and 328 East 59th St.

The total sales price for the two assets is $13,300,000.

            Peter Von Der Ahe, Joe Koicim, David Lloyd and Daniel Handweiler, all in Marcus & Millichap’s Manhattan office, represented the seller and the buyer, both private investors.

            “These are two prime mixed-use buildings located in upscale and booming Sutton Place,” says Von Der Ahe. “Both assets are well positioned to provide the new owner with strong, diversified cash flow and long-term upside.”

The properties are located on East 59th Street between First Avenue and Second Avenue, blocks from the Queensboro Bridge and the 59th Street subway stop.

322 East 59th Street and 328 East 59th Street
Sutton Place Neighborhood, Manhattan, NY

 The buildings are composed of 34 one-bedroom residential apartments, four retail units and a cell tower.

            The retail tenants are Bedford Barbers, Sasabune Express, T Gardens New York Hair Salon and Jane Packer.

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

Gina Relva

Public Relations Manager

(925) 953-1716