Marnie Lee Vance Sells Manhattan Multifamily Asset For $3,700,000 With Brokers Seth Glasser, Michael Fusco & Christopher Mehran
518 Fort Washington Avenue
$3,700,000
$89/SF
Building Size
41,552 SF
Asset Type
MultiFamily
Closing
Jul 10, 2026
AI
The property involved in the transaction is a MultiFamily asset located at 518 Fort Washington Avenue in Manhattan. It was sold for $3,700,000, with a total square footage of 41,552, resulting in a price per square foot of $89.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,700,000
- Address: 518 Fort Washington Avenue
- Market: Manhattan
- Square Footage: 41,552
- Price Per Square Foot: $89
- Seller: Marnie Lee Vance
- Brokers: Seth Glasser, Michael (Mike) Fusco & Christopher Mehran - Marcus & Millichap
This transaction was facilitated by brokers Seth Glasser, Michael (Mike) Fusco, and Christopher Mehran, who represented the seller, Marnie Lee Vance, during the sale. The professional representation by Marcus & Millichap underscores a structured approach in handling the transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93