BY AL BARBARINO

Investment Sales firm Marcus & Millichap has arranged the $1.75 million sale of a four-story residential property at 21 Broadway Terrace in the Inwood section of Manhattan, The Commercial Observer has learned.

The 17-unit building is 9,728 square feet and in addition to significant upside potential for the units includes an additional 2,310 square feet of air rights.

“We were able to find a buyer who is in the process of expanding his portfolio from Lower Manhattan to Washington Heights,” said Marcus & Millichap’s top-producing multifamily agent and “piano man” Peter Von Der Ahe, who brokered the deal with Scott Edelstein and Seth Glasser.

The sale puts the price tag on each unit at over $100,000.

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BY GUS DELAPORTE

Colliers International has been tapped to market three separate properties in Tribeca at 377 Broadway, 249 Chruch Street and 108 Chambers Street. Each property has separate, private ownership, which was not disclosed.

“It’s a very vibrant time for properties to be sold in Manhattan, especially in Tribeca,” Charles Goldberg, senior managing director at Colliers, told The Commercial Observer.

Colliers has received bids on 108 Chambers Street and 377 Broadway and is in early discussions regarding 249 Church Street. Mr. Goldberg declined to predict when the first two deals could potentially close.

“We’re in no hurry, we want to develop best possible pricing we can,” he said.

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BY BILLY GRAY

Coldwell Banker Commercial Alliance is launching an asset management division and has hired Steve Pressler and Joanne Agoglia to lead it, The Commercial Observer has learned. The team will provide management and leasing services to local landlords.

Mr. Pressler and Ms. Agoglia have worked together for over 20 years, and have leased and managed buildings including 509, 590, 609, 720 and 724 Fifth Avenue; 803 and 824 Madison Avenue; and 180-182 Broadway.

"They're bringing over their whole portfolio," said Peter Sabesan, a principal at CBC Alliance. "It was a long courtship, at least six months. Someone introduced us to Steve and the four of us--Steve, Joanne, me and my partner, Richard Selig--all hit it off. We have similar backgrounds and personalities."

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BY MICHAEL EWING

New York University’s Stern Center for Real Estate Finance Research is hosting its second annual spring symposium. The forum features panel discussions with Wall Street analysts, leading policymakers and Stern’s real estate experts and will examine the critical role of real estate in our economy and financial markets.
NYU Stern, Second Annual Spring Symposium, Kaufman Management Center, Room 2-60, 44 West 4th Street, 8:45am-5pm; visit www.stern.nyu.edu for more information.