News:
Brokerage
Posted: March 11, 2025
Marcus & Millichap facilitates $13.8 million sale of mixed-use properties
Manhattan, NY Marcus & Millichap completed the sale of 640-644 Tenth Avenue, a 27-unit mixed-use property. The asset sold for $13.8 million.
“The property benefits from an attractive tax Class 2B status and offers significant future upside through free-market tenancy,” said Christopher Dintrone. “Every deal presents its own challenges, and we procured a local New York City purchaser who was able to overcome them and facilitate a successful close.”
Dintrone, Joe Koicim and Logan Markley, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a private investor.
“This transaction is a testament to our team’s deep market knowledge, strong industry relationships and unwavering commitment to delivering seamless execution for our clients,” said Koicim.
The mixed-use property consists of 24 apartments and three commercial spaces, covering 17,932 s/f across three contiguous buildings. Each building includes eight apartments and one retail space. Located at the southeast corner of Tenth Avenue and West 45th Street, two blocks from the A, C, and E subway lines. It is nearby Hudson Yards, Times Square, and Midtown Manhattan.
Tags:
Brokerage
MORE FROM Brokerage
NAI Long Island achieves 100% occupancy at two Suffolk County office assets
Hauppauge, NY NAI Long Island, an affiliate of NAI Global, has achieved 100% occupancy at two Suffolk County office properties, totaling 50,689 s/f. These exclusive landlord leasing assignments involved 207
Quick Hits
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
.gif)
August Promotion
