NEW YORK, N.Y. – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a 27-unit multi-family building on the Upper East Side in New York. (top left photo)The sales price of $12.22 million represents $452,593 per unit and $902 per square foot.
Peter Von Der Ahe, (top right photo) an associate vice president investments and director of Marcus & Millichap’s National Multi Housing Group in Manhattan, and Christopher Sjurset, an investment specialist also in the firm’s Manhattan office, represented the seller and the buyer.
“This property is an irreplaceable real estate asset located in the thriving Upper East Side,” says Von Der Ahe. “In this area, townhomes consistently sell for more than $2,000 per square foot. Over the long term, the buyer can expect excellent returns since the property sold for approximately 28.8 times the rent roll.”
Located at 32-34 East 68th St., between Park and Madison avenues, the 13,555-square foot property consists of two 5-story buildings situated on a 42-foot by 101-foot lot. The property includes 3,313 square feet of developable air rights.
Press Contact: Stacey Corso
Communications Department
(925) 953-1716
Communications Department
(925) 953-1716
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