Press Releases
Marcus & Millichap Arranges Sale of North Charleston Multifamily Asset
December 01, 2025
NORTH CHARLESTON, S.C., Dec. 1, 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 Read Street Apartments, a 28-unit multifamily property in North Charleston, South Carolina. The asset sold for $3,600,000.
“Through a competitive marketing process, we generated multiple offers and ultimately secured a buyer willing to put down hard money on day one,” said William Graves Jr., first vice president investments in Marcus & Millichap’s Charleston office. “That level of certainty and speed underscores the strength of investor demand for multifamily properties in the Charleston region and reflects the momentum we’re seeing in North Charleston, with this marking our fifth closing there year-to-date.”
Graves had the exclusive listing to market the property on behalf of the seller, and Ryan Lipomi, senior director investments in the firm’s Charleston office, represented the buyer, a South Carolina-based private investor.
Located at 5527 Read St., Read Street Apartments comprises 28 renovated two-bedroom, one-bath units, each totaling 570 square feet. The property spans 15,960 rentable square feet on 1.17 acres and was 95% occupied at the time of sale.
Situated 12 miles from downtown Charleston and less than five miles from the Charleston Navy Yard redevelopment, the property benefits from strong employment drivers including aerospace, manufacturing, port activity, and technology.
“Through a competitive marketing process, we generated multiple offers and ultimately secured a buyer willing to put down hard money on day one,” said William Graves Jr., first vice president investments in Marcus & Millichap’s Charleston office. “That level of certainty and speed underscores the strength of investor demand for multifamily properties in the Charleston region and reflects the momentum we’re seeing in North Charleston, with this marking our fifth closing there year-to-date.”
Graves had the exclusive listing to market the property on behalf of the seller, and Ryan Lipomi, senior director investments in the firm’s Charleston office, represented the buyer, a South Carolina-based private investor.
Located at 5527 Read St., Read Street Apartments comprises 28 renovated two-bedroom, one-bath units, each totaling 570 square feet. The property spans 15,960 rentable square feet on 1.17 acres and was 95% occupied at the time of sale.
Situated 12 miles from downtown Charleston and less than five miles from the Charleston Navy Yard redevelopment, the property benefits from strong employment drivers including aerospace, manufacturing, port activity, and technology.
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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.
