Marcus & Millichap Sells MultiFamily Property In Harlem For $4.98M

This multi-family asset is located at 280 Manhattan Avenue in Harlem, Manhattan. The property encompasses 12,610 square feet and comprises 16 units, having undergone a complete gut renovation with condo-like finishes. The sale price was $4,980,000, reflecting a price per square foot of $394, and it was at the tail end of the J-51 tax abatement, providing potential for future deregulation.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,980,000
• Address: 280 Manhattan Avenue
• Market: Harlem, Manhattan
• Square Footage: 12,610
• Price per Square Foot: $394
• Broker Representatives: Seth Glasser, Michael Fusco & Benjamin Myerow - Marcus & Millichap

The transaction was facilitated by the brokerage team of Seth Glasser, Michael Fusco, and Benjamin Myerow, representing the seller. They are associated with Marcus & Millichap, handling the sale in the competitive New York City real estate market.