The Real Deal New York

Greenwich Village walk-up doubles price in 3 years

Property on West 8th Street sells for more than $10M
June 25, 2014 04:40PM

A five-story Greenwich Village walk-up apartment building sold for more than double the price the seller purchased the property for three years ago.

JMC Holdings sold the eight-unit townhouse-turned-rental at 19 West 8th Street to buyer Mitchell Marks for $10.25 million just nine days after the property was listed. JMC paid $5 million for the building in 2011.

“That says the market is on fire,” said Joe Koicim, the Marcus & Millichap broker who represented JMC in the sale.

The building features retail space, as well as two rent-stabilized units that could potentially be converted to market-rate apartments in coming years. [Crain’s]Sasha von Oldershausen