Marcus & Millichap Arranges The Sale Of A 7,397-Square Foot Mixed-Use Building in New York, NY
New York, NY, November 21, 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 16 Barrow Street, a 7,397-square foot mixed-use property located in New York, NY, according to John Horowitz, first vice president/division manager of the firm's Manhattan office. The asset sold for $6,430,000, which equates to $869 price per square foot.
Joshua Bluestein and John J. Stewart, investment specialists in Marcus & Millichap's Manhattan office, had the exclusive listing to market the property on behalf of the seller, W- Financial. The Stewart Group also secured the buyer, a limited liability company.
Bluestein comments, "This transaction gathered interest from both local and international buyers and was a very competitive bidding process with multiple offers and ultimately was able to deliver the building with 11 out of 14 residential units vacant as well as a small commercial unit on the ground floor."
16 Barrow Street is located in the West Village neighborhood of Manhattan.
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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.