Sohayegh of Marcus & Millichap sells 26-unit apartment building for $1.5 million

Marcus & Millichap Real Estate Investment Services, has completed the sale of a 26-unit apartment property located at 2604 Bainbridge Ave., according to Edward Jordan, regional manager and regional director of the firm's special assets services. The asset commanded a sales price of $1.5 million. Sharone Sohayegh, a senior associate in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor and represented the buyer, a private investor. "The seller was a family partnership which owned the building for over 25 years sold for estate planning purposes and the seller was a local investor who owned several properties in the neighborhood," said Sohayegh. "The building was under contract within the first 30 days of marketing and garnered over 16 offers within the first two weeks of being on the market," adds Sohayegh. Built in 1925, the five-story, 26-unit building is situated on Bainbridge Ave. between East 194th St. and East 193rd St. The property totals 23,697 s/f and is comprised of five studios, 15 one-bedroom units, and five two-bedroom units. The property sits on a 52' x 102' lot and is located just three blocks from Fordham Rd. and the Fordham Rd. Metro North Station.