Marcus & Millichap Closes $10.4 Million Sale of Upper East Side Multifamily Property

The Marcus & Millichap real estate brokerage firm has completed the sale of a 34-unit multifamily property in New York City's Upper East Side for $10.4 million. The property, located at 234-236 E. 88th St., was built in 1920 and features studios and one-bedroom apartments with classic architectural details and modern upgrades. Joe Koicim of the NYM Group of Marcus & Millichap represented the seller and procured the buyer, leveraging the firm's long-term relationships with foreign investors to close the deal.

Key Takeaways:

• The property, built in 1920, has 34 units with studios and one-bedroom apartments.
• The sale price was $10.4 million, a rare opportunity to acquire an 82% free-market multifamily asset on the Upper East Side.
• This is the third deal closed with foreign investors by Marcus & Millichap in the past 45 days.
• The property is two blocks from the 86th Street station, with access to the 4, 5, and 6 subway lines.
• Marcus & Millichap has over 1,500 professionals in 80 offices across the US and Canada.
• In 2024, the firm closed 7,836 transactions with a sales volume of approximately $49.6 billion.
• Joe Koicim, a Marcus & Millichap agent, was instrumental in closing the deal, leveraging the firm's relationships with foreign investors.
• The unit mix includes studios and one-bedroom apartments with classic architectural details and modern upgrades.

Statistics:

• Sale price: $10.4 million
• Number of units: 34
• Square footage: 17,110
• Property built: 1920
• Buyer represented by: Marcus & Millichap's Logan Markley
• Seller represented by: Marcus & Millichap's Joe Koicim
• Total transactions closed by Marcus & Millichap in 2024: 7,836
• Sales volume in 2024: approximately $49.6 billion

Sources:

• [Marcus & Millichap news release]
• [Original text here: https://www.marcusmillichap.com/news-events/press/2025/08/8-7-234-236-upper-east-side]
• Marcus & Millichap website: www.MarcusMillichap.com