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| 515 West 139th Street, Upper Manhattan, NY |
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| 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.
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| 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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