Marcus & Millichap arranges $11 million sale of 34-unit walk-up; Sold by Glasser, Von Der Ahe, Koicim and Kahn
Manhattan, NY Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the U.S. and Canada, has arranged the sale of 102-104 Convent Ave., a 34-unit walk-up apartment building. The $11 million sales price equates to more than $323,000 per unit.
102-104 Convent Avenue - Manhattan, NY“The property has significant upside to be gained from its high percentage of rent-regulated units,” said Seth Glasser of Marcus & Millichap’s Manhattan office. “This section of northern Manhattan is rapidly changing and rent growth is on the upswing.”
Glasser, along with Peter Von Der Ahe, Joe Koicim and Jacob Kahn, all in Marcus & Millichap’s Manhattan office, represented the seller and procured the buyer. Composed of one and two-bedroom apartments, the building is located between West 131st St. and 133rd St. across from City College.