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New York & Tri-State  + Uptown/Bronx  + Apartments  | 

Marcus & Millichap Team Brokers UWS Apartment Portfolio

Marcus & Millichap has arranged the $16.85-million sale of West Bridge Associates Portfolio, a six- building apartment portfolio on Manhattan’s Upper West Side. Seller and buyer, both private investors, were not disclosed.

The firm’s Seth Glasser, Peter Von Der Ahe, Joe Koicim and Jacob Kahn represented the seller and procured the buyer. “This was an affordable housing preservation deal.” said Glasser, “The buyer extended the existing regulatory agreements to maintain the preservation status.” He added that “dealing with different city agencies caused the closing to be delayed over a year.”

West Bridge Associates Portfolio is located on 151st and 152nd streets, between Broadway and Amsterdam Avenue. The properties are entering their second phase of a 30-year Housing Preservation and Development regulatory agreement. There is an approximately $6-million HPD loan outstanding.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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