Marcus & Millichap Real Estate Investment Services has completed the sale of 3124 32nd St., a 17-unit apartment building, according to J.D. Parker, first vice president - regional manager of the firm's Manhattan office. The asset commanded a sales price of $3.2 million.
Matthew Fotis, vice president of investments, Lazarus Apostolidis, an investment associate, and Zachary Golub, an investment associate in 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 secured and represented by Fotis, Apostolidis, Golub and Robert Aaron also an investment associate in Marcus & Millichap's Manhattan office.
The property is located at 3124 32nd St. "Within about three weeks, we were able to generate 17 competitive offers in writing which enabled the seller to sign a completely non-contingent contract, with a buyer from Manhattan, with a 1031 exchange," said Apostolidis. "In 2011 we sold a two building 34-unit package on the same block for approximately $4.5 million total. Today, we sold one 17- unit building for $3.2 million." Tags: