Marcus & Millichap closed the sale of 77 Barrow St., a multifamily property in Manhattan’s West Village, for $6.7 million. Joe Koicim and Peter Dodge, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property for the seller and procured the buyer, both private investors. The property had been owned and operated by the same family for more than 35 years.
“We would like to extend our congratulations to both buyer and seller on a smooth, quick and successful transaction,” said Dodge. “Through our targeted, direct, on-the-ground marketing, we procured a local investor eager to expand his footprint in the neighborhood and created a quiet, competitive bidding environment on behalf of our seller. Ultimately, the transaction traded just below a 4.5% cap rate on in-place income.”
Built in 1900, the five-story 77 Barrow St. has 20 apartments.
