Edelstein, Von Der Ahe and Glasser of IPA arrange $17.1 million sale; reps seller, 308 Realty and buyer, Selkirk 308 West 82nd Street

Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of The Selkirk, a 13-story, 49-unit apartment building on the borough's Upper West Side. The $17.1 million sales price equates to $350,000 per unit and $600 per s/f. IPA's Scott Edelstein, Peter Von Der Ahe and Seth Glasser advised the seller, 308 Realty and the buyer, Selkirk 308 West 82nd Street. "Prior to the sale, The Selkirk was owned and operated by a local real estate family for 40 years," said Edelstein. "This sought-after asset is a popular residence for young professionals and families attracted to living on Manhattan's Upper West Side." "The current configuration of four studio apartments per floor gives the new owner many options, including reconfiguring the units to larger 'family-style' layouts and converting them to condominiums or co-ops over time," said Von Der Ahe. Built in 1906, The Selkirk is located at 308 West 82nd St. near local schools and the Broadway retail corridor. Direct access to midtown Manhattan, Lincoln Center, Columbia University and Riverside Park via the 1 Broadway-Seventh Ave.Local subway is nearby at Broadway and 79th St. and Broadway and 86th St.