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MARCUS & MILLICHAP, INC.

(MMI)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
37.28 USD   -0.37%
12/01Marcus & Millichap : Arranges The Sale Of A 31,429-Square Foot Industrial Building
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11/29Marcus & Millichap : Arranges the Sale of a 16,650-Square-Foot Industrial Building in Columbus, Ohio
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11/23Marcus & Millichap : Arranges the Sale of a 10-Unit Apartment Building
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Marcus & Millichap : Brokers The Sale Of A 7,535-Square Foot Mixed-Use Building in New York, NY

06/07/2022 | 10:32am EST

New York, NY, June 6, 2022 -- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 411 East 9th Street, a 7,535-square foot mixed-use property located in New York, NY, according to John Horowitz, first vice president/division manager of the firm's Manhattan office. The asset sold for $4,925,000.

Dylan Torey and John J. Stewart, investment specialists of the Stewart Group, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The team also secured the buyer, a private investor.

Torey comments, "We were pleased to complete this transaction with favorable metrics to the Seller during a difficult interest rate environment. There is still a strong appetite for apartment assets in lower Manhattan due to the robust rent growth the area has been experiencing since the middle of 2021."

The site is located at 411 E 9th St in New York, NY. It is comprised of a front and rear building totaling ten one-bedroom apartments, five of which rent stabilized, and two retail units. The property was recently renovated with upgrades to fifty percent of the apartments, in addition to the façade of the building being redone last year.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

Disclaimer

Marcus & Millichap Inc. published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 June 2022 14:31:03 UTC.


ę Publicnow 2022
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Financials (USD)
Sales 2022 1 451 M - -
Net income 2022 130 M - -
Net Debt 2022 - - -
P/E ratio 2022 11,6x
Yield 2022 4,02%
Capitalization 1 467 M 1 467 M -
Capi. / Sales 2022 1,01x
Capi. / Sales 2023 0,94x
Nbr of Employees 801
Free-Float 96,6%
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Mean consensus SELL
Number of Analysts 1
Last Close Price 37,28 $
Average target price 26,00 $
Spread / Average Target -30,3%
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Managers and Directors
Hessam Nadji President, Chief Executive Officer & Director
Steven F. Degennaro Chief Financial Officer & Executive Vice President
George M. Marcus Chairman
Ken Sayward Chief Information Officer & Vice President
Tyler Theobald Chief Compliance Officer, VP & General Counsel
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