Von Der Ahe, Koicim and Glasser of Institutional Property Advisors retained to sell Washington House

New York, NY Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors,has been retained as the exclusive listing to market for sale Washington House, a 95-unit mixed-use property. “This is an opportunity to acquire a once-in-a-generation asset in the burgeoning Washington Heights submarket of Manhattan,” said Peter Von Der Ahe of IPA. “Washington House’s significant size will allow an investor to establish a strong foothold in this submarket with a single transaction.” Situated west of Broadway, Washington House is located off 173rd St. at 200 Haven Ave. Built in 1941 on a 2.86-acre-lot, the property is composed of a mix of one-, two- and three-bedroom apartments. The property’s lower level includes a 50-space parking garage. The building provides views of the Hudson River and George Washington Bridge and is steps away from Columbia Presbyterian Hospital. “Thirty-three percent of Washington House is rent-regulated, and many of the layouts among the market-rate units support reconfigurations to account for an additional room,” said Joe Koicim, also of IPA. “An investor will have numerous options for unlocking significant value to fit a variety of investment strategies.” Von Der Ahe, Koicim, and Seth Glasser, all based in Manhattan, are representing the seller, a private individual.