Edelstein, Glasser, and Von Der Ahe of Marcus & Millchap complete $6.825 million sale of 44-unit apartment complex

Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment services firm, arranged the sale of 188 & 190 Wadsworth Avenue, a 44-unit apartment property located in New York, New York, according to J.D. Parker, first vice president -regional manager of the firm's Manhattan office. The asset sold for $6.825 million. Scott Edelstein, vice president investments, Seth Glasser, investment associate, and Peter Von Der Ahe, first vice president investments, all from Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Von Der Ahe, Edelstein and Glasser. 188 & 190 Wadsworth Avenue is located at 188 Wadsworth Avenue in New York, New York. "The buildings have been maintained by a local family for the past half century and we were able to secure a local buyer who understood the fundamentals of the real estate," said Glasser. "Although the buildings have been very well kept over the 50 year ownership, no real upgrades have been made, which presents a buyer with a unique opportunity to completely renovate and rebrand the property," said Von Der Ahe.