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Marcus & Millichap Sells A 144-Unit Apartment Building

NEW YORK CITY—Marcus & Millichap Real Estate Investment Services has sold a five-story, 144-unit building, located at 330-332 West 51st Street in New York City. The building commanded a sales price of $8.6 million, according to J.D. Parker, Vice President and Regional Manager of the firm’s Manhattan office.

Peter Von Der Ahe, vice president investments, Joe Koicim, vice president investments, and David Lloyd, associate at Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a developer, was also secured and represented by Joe Koicim, Peter Von Der Ahe, and David Lloyd.

“This property was the largest SRO building that sold in Manhattan this year and also one of the few SRO properties to trade overall in 2011,” said Koicim.

Von Der Ahe and Koicim are exclusively handling the sale of two additional SRO buildings in Midtown West for the same seller. They are located on West 44th and 45th Streets just off of 9th Avenue and consist of a total of 162 units.

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