Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that The Fotis Group of Marcus & Millichap brokered three multifamily asset sales in New York City between May 9 and May 12, 2022, according to John Horowitz, first vice president and manager of the firm’s Northeast division.
The properties are:
- 768 45th St., a four-story apartment building consisting of 24 rent-stabilized apartments located between 7th Avenue and 8th Avenue in Sunset Park. Sold for the first time in over 60 years, the asset traded for $3.5 million. Matt Fotis and Dustin Cook of Marcus & Millichap’s Manhattan office represented the seller and procured the buyer.
- 6408-6140 Wetherole Street, a block-through development site located between Wetherole Street and Austin Street in Rego Park three blocks from the R&M Supermarket at 63rd Drive. Delivered vacant, the property sits on a 40-foot by 135-foot lot that is zoned R7-1. The site allows for 17,828 buildable square feet as of right. The asset sold for $3.6 million. Matt Fotis and Lazarus Apostolidis represented the seller and procured the buyer.
- 77 Mott Street, a four-story elevator commercial building located between Bayard Street and Canal Street in Chinatown. The property consists of one ground floor retail unit and three office units above. Zoned C6-1, which allows for approximately 6,956 square feet of additional air rights, the property is built full and sits on an irregular 27.92-foot by 100.83-foot lot. The asset sold for $7.05 million. Matt Fotis and Colton Traynham represented the seller and procured the buyer.
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