Marcus & Millichap facilitates $13.8 million sale of mixed-use properties

Manhattan, NY Marcus & Millichap completed the sale of 640-644 Tenth Avenue, a 27-unit mixed-use property. The asset sold for $13.8 million.

“The property benefits from an attractive tax Class 2B status and offers significant future upside through free-market tenancy,” said Christopher Dintrone. “Every deal presents its own challenges, and we procured a local New York City purchaser who was able to overcome them and facilitate a successful close.”

Dintrone, Joe Koicim and Logan Markley, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a private investor.

“This transaction is a testament to our team’s deep market knowledge, strong industry relationships and unwavering commitment to delivering seamless execution for our clients,” said Koicim.

The mixed-use property consists of 24 apartments and three commercial spaces, covering 17,932 s/f across three contiguous buildings. Each building includes eight apartments and one retail space. Located at the southeast corner of Tenth Avenue and West 45th Street, two blocks from the A, C, and E subway lines. It is nearby Hudson Yards, Times Square, and Midtown Manhattan.