Press Releases
Marcus & Millichap Brokers Sale of Mid-Rise Multifamily Property in Queens
February 05, 2025
NEW YORK, Feb. 5, 2025 – 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 a 10-unit multifamily property in Queens, New York, for $4.6 million.
“We extend our congratulations to both the buyer and seller on completing a successful transaction,” said Sean Fopeano. “The property sold at negative leverage, underscoring both the strong demand within the Astoria market and the exceptional quality of the asset.”
Fopeano, Shaun Riney, Louis Zarif and David Cornejo, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Built in 1910, the four-story, 7,806-square-foot building is located at 18-10 Astoria Blvd., just a short distance from the N and W subway lines. The property includes a mix of studio and one-bedroom apartments, as well as an elevator and a landscaped rooftop terrace.
“We extend our congratulations to both the buyer and seller on completing a successful transaction,” said Sean Fopeano. “The property sold at negative leverage, underscoring both the strong demand within the Astoria market and the exceptional quality of the asset.”
Fopeano, Shaun Riney, Louis Zarif and David Cornejo, investment specialists in Marcus & Millichap’s Manhattan office, exclusively marketed the property on behalf of the seller and procured the buyer, a local private investor.
Built in 1910, the four-story, 7,806-square-foot building is located at 18-10 Astoria Blvd., just a short distance from the N and W subway lines. The property includes a mix of studio and one-bedroom apartments, as well as an elevator and a landscaped rooftop terrace.
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About Marcus & Millichap, Inc. (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, 2024, the company had 1,712 investment sales and financing professionals in over 80 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
