Marcus & Millichap finalized the sale of 443 E. 88th St., a 25-unit apartment building in Manhattan’s Yorkville neighborhood. The property sold for $16.5 million, or $660,000 per unit.
“This property was highly sought after given its 100% free-market status, further demonstrating the consistent demand and premium buyers will pay to ensure flexibility with scale,” said Joe Koicim of the NYM Group of Marcus & Millichap in the firm’s New York City office.
Koicim and Marcus & Millichap’s Logan Markley represented the seller. Koicim, Markley and Marcus & Millichap’s Mark Zarrella procured the buyer, Jade Century Properties.
The six-story building has 40 feet of frontage on East 88th Street and contains 25 large residential apartments. The building is 100% free market and has been renovated with white oak flooring, custom kitchen millwork, stainless-steel appliances and in-unit washer/dryers. The property is located near Central Park, the Metropolitan Museum of Art, Lenox Hill Hospital and the 86th Street subway station.
