John Stewart of Marcus & Millichap and 12 Fifth Avenue

A rare elevator building in Greenwich Village at 12 Fifth Avenue has sold for $12.5 million, GlobeSt.com reported.

The 10-story, 33-unit building, between 8th and 9th streets, was owned by a family under the name Mar-Mart Realty Co. for more than 65 years, and has been bought by an LLC called United Fifth. Department of State records show the buyer is an affiliate of Harounian Enterprises. The purchase price was set at about $378,788 per unit or $640 per square-foot, for a capitalization rate of 3.29 percent, according to Marcus & Millichap, which represented both sides of the transaction. [more]