MacLaren • Talone • Townsend Sell 45-Unit Apartment Building in Yonkers

CLOSED December 2013: Trinity Senior Apartments | Yonkers, NY

CLOSED December 2013: Trinity Senior Apartments | Yonkers, NY

YONKERS, NY, December 23, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Trinity Senior Apartments, a 45-unit apartment property located in Yonkers, NY, according to Spencer Yablon, regional manager of the firm’s Philadelphia office. The asset sold for $3,301,000.

Andrew Townsend, Ridge MacLaren and Clarke Talone, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller.  The buyer was secured and represented by Andrew Townsend, Ridge MacLaren and Clarke Talone. Spencer Yablon, Broker, assisted in closing this transaction.

Trinity Senior Apartments is located at 450 Walnut Street, in Yonkers, NY.  The 45-unit LIHTC property is a traditional Catholic school building which was gut renovated in 1997 and converted into a five-story affordable housing complex. The property, which has strong historical occupancy, consists of 45 residential apartments, 23 onsite parking spaces, a massive recreation room with 20-plus foot ceilings, and more.


With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.

In Philly Area, A Strong 2013 Apartment Rental Market

Marcus & Millichap’s Philadelphia office released their fourth-quarter report on the area rental-apartment market. The report had positive things to say about multifamily housing in the Philadelphia region.

“Although there is some evidence that the economy is sputtering a bit, it appears to be strong enough in the Philadelphia region to keep multifamily housing thriving. [The report] cites ‘respectable job growth and the formation of new households’ as reducing vacancy rates in this region over the first nine months of 2013,” states the article.

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