crefeed.com | M&M arrange $8.2 million sale of mixed-use property in NYC

8/27/2008

M&M arrange $8.2 million sale of mixed-use property in NYC

Marcus & Millichap has arranged the $8.2 million sale of a mixed-use building at 650 Ninth Ave. in New York City. At 13,030 square feet, the price represents $630 per square foot.

Both the seller and the buyer, a local property owner, were represented by Peter Von Der Ahe, a vice president of investments in the Manhattan office of Marcus & Millichap, and Joseph Koicim, an investment specialist in the firm's Manhattan office.

The five-story, nine-unit building was constructed in 1920 as has 40 feet of frontage on Ninth Avenue, making it a prime location off of New York's Restaurant Row.

The property has one commercial unit, occupied by a Thai cuisine restaurant, Yum Yum Bangkok, and eight residential units with four-bedroom/two-bath floor plans. Four of the apartments have been recently renovated.

Address: 650 Ninth Ave., New York, N.Y.

Size: 13,030 square feet

Filed Under: Mixed Use

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