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.