Marcus & Millichap brokers $7.3 million sale of Greenwich Village mixed-use property

Manhattan, NY Marcus & Millichap negotiated the sale of 18-20 Christopher St., a two-property mixed-use asset in the city’s Greenwich and West Village neighborhood. The asset sold for $7.311 million.

“Congratulations to both parties on a seamless transaction,” said Peter Dodge of the NYM Group of Marcus & Millichap in New York City. “We identified and procured a qualified 1031 exchange buyer who paid more than $1,800 per square foot and closed in 30 days. This sale is a testament to the continued demand for trophy generational assets in the West Village, where we continue to see premium pricing for irreplaceable product in one of Manhattan’s most coveted corridors.”

Dodge, Joe Koicim and Paige DeMutis of Marcus & Millichap exclusively marketed the property on behalf of the seller, a local New York City owner and operator, and procured the buyer, Dalan Real Estate.

Built in 1910, the two adjacent properties span approximately 4,016 square feet and include eight residential units and three commercial spaces occupied by Le Figue and Fonty’s Bodega. Recent improvements include upgraded building systems, renovated common areas, new apartment interiors and a redesigned façade.

Located on Christopher St. between Gay St. and Waverly Pl., the property is near Sheridan Square and Washington Square Park and surrounded by restaurants, boutique retail and multiple subway lines.