Marcus & Millichap brokers $4.6 million sale of 10-unit multifamily

Queens, NY Marcus & Millichap negotiated the sale of a 10-unit multifamily property for $4.6 million.

“We extend our congratulations to both the buyer and seller on completing a successful transaction,” said Sean Fopeano. “The property sold at negative leverage, underscoring both the strong demand within the Astoria market and the exceptional quality of the asset.”

Fopeano, Shaun Riney, Louis Zarif and David Cornejo, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.

Built in 1910, the four-story, 7,806 s/f building is located at 18-10 Astoria Blvd., a short distance from the N and W subway lines. The property includes a mix of studio and one-bedroom apartments, as well as an elevator and a landscaped rooftop terrace.

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