Marcus & Millichap, one of the leading commercial real estate investment services firms with offices throughout the United States and Canada, arranged the sale of 435 East 92nd St., a 30-unit apartment property, according to John Horowitz, regional manager of the firm's Brooklyn office. The asset sold for $3.675 million.
Derek Bestreich, Erik Rodriguez and Seth Schiffman from Marcus & Millichap's Brooklyn office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Bestreich, Rodriguez and Schiffman.
"Within a few weeks of marketing we were able to generate over 10 offers in writing, selling the property under a 5% cap which reflects strong demand for multifamily buildings," said Rodriguez. Tags: