News:
Brokerage
Posted: February 13, 2012
Von Der Ahe, Koicim and Lloyd of Marcus & Millichap handle $8.6 million sale; Represented both the buyer and seller of the 144-unit building
Marcus & Millichap Real Estate Investment Services has completed the sale of a five-story, 144-unit building, located at 330-332 West 51st St. The asset commanded a sales price of $8.6 million, according to J.D. Parker, VP and regional manager of the firm's Manhattan office.
Peter Von Der Ahe, VP investments, Joe Koicim, VP investments, and David Lloyd, associate at Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a LLC. The buyer, a developer, was also secured and represented by Koicim, Von Der Ahe, and Lloyd.
"This property was the largest SRO building that sold in Manhattan this year and also one of the few SRO properties to trade overall in 2011. With our strong track record of selling SRO buildings, we were able to identify and target the most probable buyers," said Koicim.
"It was a challenging environment in the selling of SRO buildings, making this type of asset unique considering the recent changes in SRO legislation. Our relationship with all parties involved made for a smooth transaction," said Von Der Ahe.
Von Der Ahe and Koicim are exclusively handling the sale of two additional SRO buildings in Midtown West for the same seller. They are located on West 44th and 45th Sts. off of 9th Ave. and consist of a total of 162 units.
330-332 West 51st Street - New York, NY
Tags:
Brokerage
MORE FROM Brokerage
NYSCAR June 2026 president’s message - by Mercedes Brien
As I write this letter, we are preparing to be at the Annual Conference being held at the Rivers Casino, Schenectady, New York. I look forward to reporting on the conference in my next letter. We have some great courses coming up via Zoom. Please be sure to keep watch on upcoming courses by visiting nyscar.org/resources and tools/professional development.
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
