NEW YORK—A private investor has paid approximately $1.7 million to acquire 21 Broadway Terrace, a 17-unit multifamily apartment property.

Peter Von Der Ahe, first VP investments, Scott Edelstein, VP investments, and Seth Glasser, investment associate in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller, a private investor.The buyer was also secured and represented by Von Der Ahe, Edelstein and Glasser.

“We were able to find a buyer who was in the process of expanding his portfolio from lower Manhattan to Washington Heights,” said Glasser.