Marcus & Millichap has closed the sale of 443 East 88th Street, a 25-unit apartment building in Manhattan’s Yorkville neighborhood, for $16.5 million. The transaction equates to a price of $660,000 per unit for the fully free-market property.
Joe Koicim of the NYM Group in Marcus & Millichap’s New York City office said the offering drew strong interest because of its 100% free-market status. He noted that the outcome reflects ongoing demand and the premium buyers are willing to pay to secure assets that provide flexibility and can be scaled.
Koicim and Marcus & Millichap’s Logan Markley represented the seller in the transaction. The buyer, Jade Century Properties, was procured by Koicim, Markley and Marcus & Millichap’s Mark Zarrella.
The six-story building provides 40 feet of frontage along East 88th Street and contains 25 large residential apartments. The property is entirely free market and has been renovated, featuring white oak flooring, custom kitchen millwork, stainless-steel appliances and in-unit washer/dryers.
Residents at 443 East 88th Street are situated near several key neighborhood and city amenities. The property is located within proximity of Central Park and the Metropolitan Museum of Art, offering access to major cultural and recreational destinations. It is also close to Lenox Hill Hospital, providing nearby healthcare services for residents.
Transit access is another component of the location, with the 86th Street subway station situated near the property. This connectivity enhances accessibility to other parts of Manhattan and the broader New York City area.
The combination of a fully free-market rent roll, updated residential finishes and a location in Yorkville contributed to investor interest in this multifamily asset. The sale underscores that renovated, amenitized product in established Manhattan neighborhoods continues to attract capital at meaningful per-unit pricing.
