News: Brokerage

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million.

“This transaction underscores the sustained demand for fully free-market, mixed-use properties in the East Village,” said Matt Berger of the NYM Group of Marcus & Millichap in Manhattan. “Assets with strong in-place cash flow and long-term upside continue to attract capital in today’s market, and we were pleased to help both parties reach a successful closing.” 

Berger and Joe Koicim represented the seller and procured the buyer, a local private investor. 

Built as a five-story prewar asset, 207 E. Fourth St. spans 7,166 s/f on a 25-ft. by 96.17-ft. lot and is zoned R7B. The building includes 15 residential units and two ground-floor commercial units, with all residential apartments operating at 100% free-market status. The unit mix features nine studios, four one-bedroom units and two two-bedroom units, offering a diversified rent roll in one of New York City’s most established renter submarkets. 

Residential interiors have been recently upgraded with high-end finishes, including hardwood floors, in-unit laundry, renovated kitchens with stainless steel appliances, dishwashers, marble bathrooms and abundant natural light throughout the apartments. The property is located near Tompkins Square Park and within walking distance of the F, M, Z and J subway lines, providing convenient access to the broader Manhattan market. 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

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
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

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,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

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.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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