Marcus & Millichap facilitates sale of 49-unit property for $7.8 million

New York, NY Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, completed the sale of 258 Wadsworth Ave., a 49-unit apartment property, according to John Krueger, regional manager of the firm’s Manhattan office. The asset sold for $7.8 million.

Jacob Kahn and Seth Glasser, investment specialists in Marcus & Millichap’s Manhattan office, had the open listing to market the property on behalf of the seller, 258 Wadsworth Associates. The buyer, 258 Wadsworth Realty LLC, was secured and represented by Jacob Kahn, Joe Koicim, Peter Von Der Ahe and Seth Glasser. Krueger, broker of record in the Manhattan office, assisted in closing this transaction.

Glasser said, “The purchaser was in a 1031 exchange from a different asset class and wanted to buy a clean cash flowing apartment building in a growing neighborhood.”

258 Wadsworth Ave. was built in 1923 and sits in the neighborhood of Washington Heights.