Von Der Ahe, Koicim, Lloyd and Sjurset of Marcus & Millichap complete $4.25 million sale of 19-unit apartment building

Marcus & Millichap Real Estate Investment Services has completed the sale of 311 West 29th St., a 19-unit apartment building, according to J.D. Parker, VP - regional manager of the firm's Manhattan office. The asset commanded a sales price of $4.25 million and a capitalization rate of 5.3%. Peter Von Der Ahe, Joe Koicim and David Lloyd, investment specialists in 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 secured and represented by Christopher Sjurset, also an investment specialist in Marcus & Millichap's Manhattan office along with Von Der Ahe, Koicim, Lloyd. "In the last 45 days my team and I have placed six multifamily buildings under contract in Chelsea," said Koicim. "The buyer was in a 1031 exchange from a property that we sold for him in the East Village. It was a smooth and successful transition for our client," said Von Der Ahe.