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Deals & Dealmakers

National Historic Landmark Apartment Asset Sale Brokered by Marcus & Millichap

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 555 Edgecombe Avenue, a National Historic Landmark apartment asset located in the Washington Heights neighborhood of New York City. The 128-unit elevator building sold for $26.75 million.

“We are extremely proud to have closed this transaction given the roughly five years spent on and off market and the historic nature of the asset,” commented Seth Glasser. Glasser, Joe Koicim, and Benny Katz of Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor. The team also secured the buyer, another private investor.

Constructed between 1914 and 1916, the building has 13 floors and a penthouse. Known for its famous tenants, including Count Basie, Joe Louis and Paul Robeson, the building was designated as a National Historic Landmark in 1976 and as a New York City landmark in 1993.

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