Marcus & Millichap, a leading commercial real estate firm, recently announced the successful sale of a 36-unit multifamily property in the desirable Upper West Side neighborhood. The property sold for $11.25 million with an impressive 5.02% cap rate.
The seller, a long-term private investor, was represented by John Stewart and Dylan Torey from Marcus & Millichap who expertly facilitated the transaction with buyer Alchemy Ventures. Max Herzog and Marko Kazanjian of IPA Capital Markets secured debt financing for the purchase.
Located at 310 W 80th St., this six-story elevator apartment building was originally constructed in 1910 and offers stunning views of Riverside Park and the Hudson River. With thirty-six units including studios and one-bedrooms, this highly sought-after property is sure to be a valuable addition to any investment portfolio.
