Marcus & Millichap Sells Multifamily Portfolio On Upper East Side For $23.7M
226 East 83rd Street & 312 East 84th Street
$23,700,000
$1,333/SF
Building Size
17,773 SF
Asset Type
Mixed-use
Closing
Oct 29, 2026
About this deal
AI
This multifamily mixed-use portfolio, located at 226 East 83rd Street & 312-314 East 84th Street in the Upper East Side / Yorkville market, consists of three buildings with a total of 61 units. The transaction concluded at a price of $23,700,000, equating to $635 per square foot and demonstrating a cap rate of 5.5%. The property features 46 of the 58 residential units designated for free market and includes three ground-floor retail tenants, providing the buyer with immediate scale and potential for market value enhancement.
Summary of transaction details:
- Property Type: Multifamily / Mixed-use
- Transaction Amount: $23,700,000
- Units: 61
- Price Per Unit: $388,525
- Total Square Footage: 37,333
- Price Per Square Foot: $635
- Cap Rate: 5.5%
- Brokers: Joe Koicim, Luca Errico - Marcus & Millichap; Logan Markley - New York Multifamily
Joe Koicim and Luca Errico from Marcus & Millichap, along with Logan Markley from New York Multifamily, represented the transaction, providing expertise that facilitated the deal's closure. The property's significant residential and retail composition presents favorable conditions for future value appreciation, highlighting the team's strategic insights in navigating this multifamily deal.
On the Map
$23,700,000
$1,333/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93