Michael Forrest Sells Multifamily Property At 164 Ludlow Street For $7.85M With Marcus & Millichap

The property involved in this transaction is a multifamily asset located at 164 Ludlow Street in the Lower East Side of Manhattan. The sale price of the property was $7,850,000. It comprises a total of 17 units, with a price per unit of $461,764. The asset encompasses a total square footage of 9,735, resulting in a price per square foot of $806.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,850,000
• Units: 17
• Price Per Unit: $461,764
• Square Footage: 9,735
• Price Per Square Foot: $806
• Seller: Michael Forrest
• Broker Representatives: Joseph Koicim & Matt Berger - Marcus & Millichap
• Date of Transaction: 10/09/2024
• Address: 164 Ludlow Street
• Market: Lower East Side, Manhattan

The deal was represented by Joseph Koicim and Matt Berger from Marcus & Millichap, who facilitated the transaction for the seller, Michael Forrest. This property transaction highlights the role of brokers in navigating the multifamily market in Manhattan.