Free-Market Yorkville Apartments Go for $660K Per Unit
Marcus & Millichap finalized the sale of 443 E. 88th St., a 25-unit apartment building in Manhattan’s Yorkville neighborhood. The property sold for $16.5 million, or $660,000 per unit.
“This property was highly sought after given its 100% free-market status, further demonstrating the consistent demand and premium buyers will pay to ensure flexibility with scale,” said Joe Koicim of the NYM Group of Marcus & Millichap in the firm’s New York City office.
Koicim and Marcus & Millichap’s Logan Markley represented the seller. Koicim, Markley and Marcus & Millichap’s Mark Zarrella procured the buyer, Jade Century Properties.
The six-story building has 40 feet of frontage on East 88th Street and contains 25 large residential apartments. The building is 100% free market and has been renovated with white oak flooring, custom kitchen millwork, stainless-steel appliances and in-unit washer/dryers. The property is located near Central Park, the Metropolitan Museum of Art, Lenox Hill Hospital and the 86th Street subway station.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout