Marcus & Millichap brokers sale of multifamily portfolio consisting of 14 buildings and vacant lot
Manhattan, NY Marcus & Millichap brokered the sale of the Finite Homes portfolio, a Harlem-based multifamily portfolio consisting of 14 buildings and one vacant lot.
“After being under contract for more than two years, we were finally able to close with an affordable housing buyer who jumped through more hoops than I can count,” said Seth Glasser of Marcus & Millichap’s New York Multifamily Group. “The buyer’s willingness and expertise to navigate HPD was truly exceptional,” said Michael Fusco.
Glasser and Fusco exclusively marketed the portfolio on behalf of the seller, Finite Homes LLC, and procured the buyer, Heritage Affordable.
The Finite Homes portfolio includes 130 apartments and six retail spaces, with the properties concentrated along 125th St., Harlem’s primary commercial corridor. The residential mix ranges from studios to four-bedroom units, and five of the six retail spaces provide street-level exposure along the corridor.
The properties have direct access to multiple subway lines and proximity to major neighborhood anchors, including the Apollo Theater, Marcus Garvey Park and Harlem Hospital.