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National Historic Landmark Apartment Asset Sale Brokered by Marcus & Millichap

May 12, 2022

NEW YORK, May 12, 2022 – 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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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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