GPG Properties
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Brokerage
Posted: November 20, 2018
GPG Properties acquires Upper East Side multifamily for $12.5 million; Koicim, Von Der Ahe and Handweiler of Marcus & Millichap act for seller
GPG Properties
Mautner-Glick Corp.
Manhattan, NY GPG Properties LLC has closed on 312-314 East 91st St. in the Yorkville section the Upper East Side. The purchase price was $12.5 million.
The brokers representing the seller was Joe Koicim, Peter Von Der Ahe, and Daniel Handweiler of Marcus and Millichap. The buyer was self-represented.
Located between First and Second Aves., the five-story, building has 30 rental units, ranging from studio through four-bedroom apartments.
“This is an exceptionally stable asset that is consistent with many other properties in the Glick family portfolio,” said Jason Glick, managing partner, GPG Properties.
“We are sure we can efficiently manage the property and position the asset for long-term hold.”
Randy Glick, president, Mautner-Glick Corp. said, “Mautner-Glick has managed multi-family assets on the Upper East Side for nearly six decades. This was a not-to-miss opportunity for the portfolio.”
The subject property is close to the Second Ave. subway line, Carl Schurz Park, the East River, restaurants and abundant shopping.
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