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Avison Young Brokers Pair of East Village Multifamily Deals
Avison Young’s Tri-State Investment Sales Group arranged the sale of two mixed-use multifamily properties in the East Village. The 13-unit 164 First Ave. traded for $10.4 million and the four-unit 218 E. 9th St. sold for $5.1 million.
An Avison Young team of Brandon Polakoff, James Nelson, Eric Karmitz and Ryan McGuirl represented the seller of 218 E. 9th. Polakoff and McGuirl also handled the sale of 164 First.
“Leasing activity in New York City has eclipsed pre-COVID levels as multiple different tenant bases, including recent grads, college students and professionals, return to the city from the suburbs simultaneously,” said Polokoff. “The sales of both 164 First Ave. and 218 E. 9th StSt. are leading examples of investors capitalizing on the swift recovery of the multifamily sector, with both properties offering value add potential and the benefit of long-term in-place retail leases in one of the city’s top-performing residential submarkets.”
- ◦Sale/Acquisition
