**Marcus & Millichap Closes $7.5M Sale of 97-Unit Multifamily Building in the Bronx**
Marcus & Millichap has completed the $7.5 million sale of a 97-unit multifamily property located at 1154 Ward Avenue in the Soundview neighborhood of the Bronx. The six-story elevator building, originally constructed in 1929, spans 90,000 square feet and features rent-stabilized units.
“This sale is a prime example of continued demand for clean, well-managed rent-stabilized apartment buildings with healthy collections,” said Michael Fusco, a Marcus & Millichap investment specialist. “Regardless of any compliance and political headwinds in New York, long-term money is still finding value in the stabilized housing stock.”
The property was marketed by Michael Fusco, Seth Glasser, and Benjamin Myerow of Marcus & Millichap’s Manhattan office. The buyer and seller are both high-net-worth, private local investors.
“High-net-worth, local private families continue to win deals and deploy capital,” Fusco added.
The transaction underscores sustained investor interest in stabilized multifamily assets throughout New York City, especially in neighborhoods like Soundview where long-term value remains strong.
