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Posted: May 17, 2016
Von Der Ahe, Koicim, Lloyd and Isdaner of IPA arrange $33 million multifamily sale
Peter Von Der Ahe, Marcus & Millichap
Joe Koicim, Marcus & Millichap
15 East 36th Street - Manhattan, NYManhattan, NY Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has completed the sale of 15 East 36th St., an eight-story, 56-unit elevator building located in the Midtown South neighborhood. The property sold for $33 million, or just under $590,000 per unit.
“This unique building is ripe for repositioning into luxury rentals,” said Peter Von Der Ahe of IPA. “Many professionals who wish to live near their work consider Midtown East the perfect place to be. It is the busiest commercial district in the United States, and home to one of the nation’s most diverse arrays of real estate.”
Von Der Ahe, along with Joe Koicim, David Lloyd and Corey Isdaner, represented the seller and procured the buyer.
The property is located on the north side of 36th St. between Madison Ave. and Fifth Ave., close to Grand Central Station and Bryant Park. The building features 16 one-bedroom apartments, 39 studios and a basement apartment. There are 34 free-market apartments and 21 rent-stabilized units.
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