Marcus & Millichap exclusively sell 5,000 s/f site at 163 Bleecker for $4.5m

Manhattan, NY Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, completed the sale of 163 Bleecker St., 5,000 s/f of land, according to Susan Bands, regional manager of the firm’s local office. The asset sold for $4.5 million.

Joshua Bluestein and John Stewart, investment specialists in Marcus & Millichap’s local office, had the exclusive listing to market the property on behalf of the seller, Bleecker Plaza Realty Corp. The buyer, Ofer Cohen, was secured and represented by Matt Fotis and Robert Aaron, investment specialists in Marcus & Millichap’s local office.

Bluestein said, “This transaction shows there is renewed interest in property in lower Manhattan after the rental market soared here since the summer. We created a competitive buying process and were able to secure over $500/buildable s/f and a 15-day closing timeframe for the seller.”

The property was built in 1900 and was delivered completely vacant.