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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
- ◦Sale/Acquisition

