News: Brokerage

Marco Lala of Marcus & Millichap complete three sales totaling $6.1 million

Marcus & Millichap Real Estate Investment Services has arranged the sale of three properties for $6.0875 million, according to Edward Jordan, regional manager of the firm's Manhattan office. Marco Lala, associate VP investments in Marcus & Millichap's Manhattan office, together with licensed assistants Dave Raciti and Jack Lala, represented the sellers and the buyers. The properties are: * 250 McLean Ave., a 36-unit multifamily building with eight studios, 20 one-bedroom units and eight two-bedroom apartments in Yonkers. The six-story, 30,328 s/f building sold for $3.4 million. The transaction was the second sale of the same property by Lala within three years. * 2307 Beaumont Ave., a 25-unit multifamily building with 16 one-bedroom units and nine two-bedroom apartments. The 20,920 s/f, five-story walk-up received 17 offers in 30 days and sold for $1.638 million. * 245 East Mosholu Pkwy. North, a 50-ft. by 160-ft. lot with approved and delivered plans for an 11-story apartment building with 29 one-bedroom units, five two-bedroom units and one studio apartment. The investor, Promesa Systems Inc., a not-for-profit real estate organization, received 100% financing from the N.Y.C. Affordable Housing Acquisition Loan Fund. The 34,250 s/f lot sold for $1.05 million.
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