Press Releases
Marcus & Millichap Brokers Sale and Arranges Financing for 40-Unit Multifamily Property in Queens
October 09, 2025
NEW YORK, Oct. 9, 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 and financing of a 40-unit multifamily property at 27-08 39th Avenue. in Queens, New York. The property sold for $7,350,000. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $4 million in financing.
Marcus & Millichap’s Matt Fotis and Lazarus Apostolidis represented the seller and procured the buyer in collaboration with Marcus & Millichap Capital Corporation’s Steve Filippo, who arranged financing.
“As multifamily values become more nuanced in NYC, a broker really must understand the asset to connect with the right buyers,” said Fotis. “Our marketing process created the exposure needed to identify a buyer in a 1031 exchange.”
“We also collaborated with MMCC to provide seamless acquisition financing, ensuring the buyer could close quickly and with confidence,” added Apostolidis.
The five-story building, built in 1929, is between 27th and 28th streets in the Long Island City section of Queens. It includes studios along with one- and two-bedroom units. About 80% of the apartments are free market, with the rest rent-stabilized. The 25,125-square-foot building is within walking distance of the Queensboro Plaza transit hub and multiple subway lines.
Marcus & Millichap’s Matt Fotis and Lazarus Apostolidis represented the seller and procured the buyer in collaboration with Marcus & Millichap Capital Corporation’s Steve Filippo, who arranged financing.
“As multifamily values become more nuanced in NYC, a broker really must understand the asset to connect with the right buyers,” said Fotis. “Our marketing process created the exposure needed to identify a buyer in a 1031 exchange.”
“We also collaborated with MMCC to provide seamless acquisition financing, ensuring the buyer could close quickly and with confidence,” added Apostolidis.
The five-story building, built in 1929, is between 27th and 28th streets in the Long Island City section of Queens. It includes studios along with one- and two-bedroom units. About 80% of the apartments are free market, with the rest rent-stabilized. The 25,125-square-foot building is within walking distance of the Queensboro Plaza transit hub and multiple subway lines.
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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.
