Turtle Bay Apartments Sold for $5M
A 6-unit apartment property in Turtle Bay was sold for $5 million. Located at 975 2nd Ave, the property falls under the Tax Class 2A designation, which limits tax increases.
The sale was facilitated by Marcus & Millichap’s investment specialists Joe Koicim, Peter Dodge, and Zan Colin, who represented both the seller and the buyer.
“As with any disruption in the market whether it be a rise in rates, or the COVID-19 crisis, we’ve recently seen an influx of new purchasers and capital that see the opportunity with imminent and compelling circumstances to purchase these types of assets,” said Dodge.
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