{"id":1532,"date":"2025-10-14T13:30:10","date_gmt":"2025-10-14T13:30:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/1532\/"},"modified":"2025-10-14T13:30:10","modified_gmt":"2025-10-14T13:30:10","slug":"mmcc-brokers-sale-and-arranges-financing-for-40-unit-multifamily-property-on-39th-avenue-in-queens","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/1532\/","title":{"rendered":"MMCC Brokers Sale and Arranges Financing for 40-Unit Multifamily Property on 39th Avenue in Queens"},"content":{"rendered":"<p>            <a href=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/27-08-39th-Avenue.jpeg\" data-caption=\"The property sold for $7,350,000. Marcus &amp; Millichap Capital Corporation (MMCC), a subsidiary of Marcus &amp; Millichap, arranged $4 million in financing.\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"365\" class=\"entry-thumb td-modal-image\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/27-08-39th-Avenue.jpeg\" alt=\"27-08 39th Avenue\" title=\"27-08 39th Avenue\"\/><\/a>The property sold for $7,350,000. Marcus &amp; Millichap Capital Corporation (MMCC), a subsidiary of Marcus &amp; Millichap, arranged $4 million in financing.<\/p>\n<p><a href=\"http:\/\/www.mmcapcorp.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Marcus &amp; Millichap Capital Corporation<\/a> (MMCC), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale and financing of a 40-unit multifamily property at <a href=\"https:\/\/www.loopnet.com\/Listing\/27-08-39th-Ave-Long-Island-City-NY\/22507981\/\" target=\"_blank\" rel=\"noopener nofollow\">27-08 39th Avenue<\/a> in Queens, New York.<\/p>\n<p>Marcus &amp; Millichap\u2019s Matt Fotis and Lazarus Apostolidis represented the seller and procured the buyer in collaboration with Marcus &amp; Millichap Capital Corporation\u2019s Steve Filippo, who arranged financing.<\/p>\n<p>\u201cAs multifamily values become more nuanced in NYC, a broker really must understand the asset to connect with the right buyers,\u201d said Fotis. \u201cOur marketing process created the exposure needed to identify a buyer in a 1031 exchange.\u201d<\/p>\n<p>\u201cWe also collaborated with MMCC to provide seamless acquisition financing, ensuring the buyer could close quickly and with confidence,\u201d added Apostolidis.<\/p>\n<p>The five-story building, built in 1929, is between 27th and 28th streets in the Long Island City section of Queens. It includes studios along with one- and two-bedroom units. About 80% of the apartments are free market, with the rest rent-stabilized. The 25,125-square-foot building is within walking distance of the Queensboro Plaza transit hub and multiple subway lines.<\/p>\n<p>Marcus &amp; Millichap Capital Corporation (MMCC) is a subsidiary of Marcus &amp; Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2024, MMCC closed 1,249 transactions totaling $9.1 billion.<\/p>\n<p><a class=\"gofollow\" data-track=\"MjQ1LDYsNjA=\" href=\"http:\/\/umadvisory.org\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/UMA-digi-ad-leaderboard.jpg\" title=\"UMAdvisory\" border=\"0px\"\/><\/a>        <\/p>\n","protected":false},"excerpt":{"rendered":"The property sold for $7,350,000. Marcus &amp; Millichap Capital Corporation (MMCC), a subsidiary of Marcus &amp; Millichap, arranged&hellip;\n","protected":false},"author":2,"featured_media":1533,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[2001,2002,2003,2004,2005,2006,2007,2008,9,24,12,63,122,124,2009,123,2010,2011],"class_list":{"0":"post-1532","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-queens","8":"tag-acquisition-financing","9":"tag-capital-markets","10":"tag-deal-boom","11":"tag-long-island-new-york","12":"tag-marcus-millichap","13":"tag-mid-rise","14":"tag-mixed-income","15":"tag-multifamily","16":"tag-new-york","17":"tag-new-york-city","18":"tag-news","19":"tag-nyc","20":"tag-queens","21":"tag-queens-headlines","22":"tag-queens-new-york","23":"tag-queens-news","24":"tag-transit-oriented","25":"tag-vintage-building"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/1532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=1532"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/1532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/1533"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=1532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=1532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=1532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}