Marcus & Millichap Arranges $5 Million Sale of 13-Unit Multifamily Property in Hell’s Kitchen

NEW YORK, Oct. 28, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 13-unit multifamily property in New York, for $5 million.

"With 7 of the 13 units vacant at the time of sale, the purchaser will immediately be able to reposition the asset through high-end renovations," said Joe Koicim. "Well-located value-add properties are always in high demand."

Koicim, Logan Markley and Zan Colin, investment specialists in Marcus & Millichap's Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, both local private investors.

Built in 1920, the five-story building includes a mix of one-, two- and three-bedroom apartments. Located at 753 Ninth Ave. in the heart of Hell's Kitchen, the property is within walking distance of Times Square, Central Park and the Theater District.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.