Marcus & Millichap facilitates $9.05 million mixed-use property sale

Manhattan, NY Marcus & Millichap brokered the sale of a 17,645 s/f mixed-use property for $9.05 million.

“Having previously been on the market with two other brokerage firms, the ownership engaged us to sell the property due to our track record in the area and demonstrated executional capability,” said Peter Dodge. “We extend our congratulations to both the buyer and the seller on a successful transaction.”

Dodge, Joe Koicim, Logan Markley and Zan Colin, investment specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, an end user purchaser and restaurateur. The property has been owned and operated by the same family for over 25 years.

Located at 216 East 49^th St. in the Turtle Bay neighborhood, the five-story, 17,645 s/f property is zoned R8B and features a flexible configuration currently as office space, which may be repositioned to residential use or condominium conversion. Additionally, the property features a 3,800 s/f first floor commercial space, vented for a restaurant with a fully built-out basement. The property is positioned near the United Nations headquarters, Grand Central Station, and Central Park.