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Brokerage
Posted: March 21, 2011
Von Der Ahe, Koicim and Lloyd of Marcus & Millichap handle $3.503 million sale; Sold a 13-unit mixed use building; Reps buyer and seller
Marcus & Millichap Real Estate Investment Services has completed the sale of a 7,930 s/f Upper East Side mixed-use building, located at 1431 First Ave., according to J.D. Parker, regional manager of the firm's Manhattan office. The asset sold for $3.503 million, a GRM of 11, and a capitalization rate of 5.4%. Peter Von Der Ahe, Joseph Koicim, and David Lloyd, investment specialists at Marcus & Millichap's Manhattan office had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by, Von Der Ahe, Koicim, and Lloyd.
"The seller chose to work with us because of our market knowledge. As experienced real estate professionals, they knew we would be able to create an auction environment with the best buyers in the marketplace." said Koicim.
"Our expertise allowed us to communicate with the strongest buyers in the local marketplace, and by developing such close relationships with both the buyer and the seller, it allowed our team to overcome obstacles that presented themselves throughout this transaction."
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