Marcus & Millichap's Schellinger, Felson and Riney broker $960,000 sale

Marcus & Millichap Real Estate Investment Services has completed the sale of 585 Park Pl., an six-unit apartment building, according to J.D. Parker, regional manager of the firm's Manhattan office. The asset commanded a sales price of $960,000. Bryan Schellinger and Zachary Felson, investment specialists at Marcus & Millichap, had the exclusive listing to market the property on behalf of the sellers, private investors. The buyer, a private investor, was secured and represented by Schellinger, Shaun Riney and Felson. "The sellers were in a position where they had debt obligations coming due and needed to find an all-cash buyer who could perform in a timely manner. Our platform: relationships with qualified buyers, proved to be very beneficial to the sellers," said Schellinger.