Stoehrer, Marks and Mooney of Marcus & Millichap broker $2.02 million

Marcus & Millichap Real Estate Investment Services, has completed the sale of the Inn at the Blue, a 29-room boutique resort hotel located at 7850 Main Rd., according to J.D. Parker, vice president and regional manager of the firm's Manhattan office. The asset commanded a sales price of $2.02 million. Steven Stoehrer an investment specialist, Christopher Marks and Sean Mooney, of Marcus & Millichap Capital Corp., at Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, a financial institution. The buyer was secured and represented by Ken Hoff, a senior agent also at Marcus & Millichap's Manhattan office. "With our knowledge of the local market, we were able to walk the seller and buyer through current market conditions and help make this deal happen." said Stoehrer. "The buyer owns another Long Island hotel and this asset provides a good addition to his portfolio," said Hoff. With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 3,441 transactions in 2009, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.