NEW YORK CITY-Marcus & Millichap Real Estate Investment Services has closed the sale of a mixed-use retail and residential building located at 220 Park Avenue South for $20 million. The company's broker Peter Von Der Ahe represented the deal.
Peter Von Der Ahe stated that with a purchase price of $595 per square foot, the century-old building measuring 33,638 square feet and its 37 units could be ready for a condominium conversion. Restaurant Haru occupies the building's 2,650-square-foot retail space. For the full story, go to New York Observer .
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