Manhattan, NY Apartment Building Sale Brings $12.6 Million

425--431 West 205th Street, Inwood Neighborhood, 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 425-431 West 205th St., a six-story, 72-unit elevator building in Manhattan’s Inwood neighborhood.

The $12,600,000 sales price equates to $175,000 per unit.

            Peter Von Der Ahe, Scott Edelstein, Seth Glasser and Rafi Moskowitz, in Marcus & Millichap’s Manhattan office, represented the seller, a private individual from Florida, and the buyer, a family partnership based in Westchester.

            “The property is a low-maintenance, fully rent-stabilized building that was on the market for the first time in 30 years,” says Von Der Ahe.

“What makes this property unique is that half of the units have one-and-a-half or two bathrooms, which is a rarity in this neighborhood,” notes Glasser.

Scott Edelstein

The property is easily accessible from the No. 1 and A subway lines and recently received a new roof, elevator cab and mechanicals. A cellular antenna on the roof produces additional income. 

The unit mix is 37 one-bedroom units and 35 two-bedroom apartments.

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

Gina Relva

Public Relations Manager                                              

(925) 953-1716