Tuesday, December 17, 2013

42 Upper Manhattan Units Trade Hands for $9.3 Million


515 West 139th Street, Upper Manhattan, NY

Marco Lala
NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 515 West 139th St. and 526 West 139th St., two five-story, 21-unit, walk-up apartment buildings Upper Manhattan. The $9,300,000 total sales price equates to $216,000 per unit.

            Marco Lala in Marcus & Millichap’s Manhattan office represented the seller and the buyer, two local area multi-generational real estate families.

            “The rental housing market continues to be extremely healthy during this time of solid economic growth in New York,” says Lala. “A steady renter pool for these two assets is provided by The City College of New York, which is just steps away.”          

            “Half of the units in each property have been renovated,” adds Lala.

            Both properties are located on West 139th St. less than one block east of Amsterdam Avenue in Upper Manhattan.

            Built in 1910 and altered 1988, 515 West 139th Street features hardwood floors, French doors and original architectural details such as iron fencing, a wood and glass exterior door, a marble lobby and a marble and steel staircase.

526 West 139th Street, Upper Manhattan, NY
The electrical system has been upgraded and the building has two new gas boilers with separate systems for heat and hot water.

            Also constructed in 1910 and featuring period details, 526 West 139th St. has a new roof, recent spot brick pointing, a new water meter, a heat computer with four sensors and a fully encased 3,000-gallon above-ground oil tank.

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


Gina Relva
Public Relations Manager
(925) 953-1716



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