News: Brokerage

Marcus & Millichap brokers $16.5 million sale of 25-unit Yorkville apartment building

Manhattan, NY Marcus & Millichap brokered the sale of 443 East 88th St., a 25-unit apartment building in Yorkville. The property sold for $16.5 million, which equates to $660,000 per unit.

“This property was highly sought after given its 100% free-market status, further demonstrating the consistent demand and premium buyers will pay to ensure flexibility with scale,” said Joe Koicim of the NYM Group of Marcus & Millichap in the firm’s New York City office.

Koicim and Marcus & Millichap’s Logan Markley represented the seller. Koicim, Markley and Marcus & Millichap’s Mark Zarrella procured the buyer, Jade Century Properties.

The six-story building has 40-ft. of frontage on East 88th St. and contains 25 residential apartments. The building is 100% free market and has been renovated with white oak flooring, custom kitchen millwork, stainless-steel appliances and in-unit washer/dryers. The property is located near Central Park, the Metropolitan Museum of Art, Lenox Hill Hospital and the 86th St. subway station on the Upper East Side.

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