Marcus & Millichap Inc.
06/17/2026 | Press release | Archived content
Marcus & Millichap Arranges Sale of Three-Property Mixed-Use Portfolio in Poughkeepsie, New York
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Marcus & Millichap Arranges Sale of Three-Property Mixed-Use Portfolio in Poughkeepsie, New York
June 17, 2026
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POUGHKEEPSIE, N.Y., June 17, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a three-property, 33-unit, mixed-use portfolio in Poughkeepsie, New York. The asset sold for $4.5 million.
"This transaction demonstrates that well-located multifamily assets continue to attract strong investor interest, even when significant value-add work is required," said Brian Kaplan in Marcus & Millichap's New Jersey office. "The portfolio included several apartment units requiring substantial renovation as well as outstanding town and fire department requirements. We identified a buyer with the vision, capital and patience to execute the business plan, creating a successful outcome for both parties."
Kaplan, in association with John Horowitz, the firm's broker of record in New York, exclusively marketed the property on behalf of the seller, GSP One LLC.
The portfolio totals 28,990 square feet and is located at 509-513 Main St., 78-82 and 84-86 Garden St. and 30 Kelsey Road. The three properties include a 12-unit mixed-use building with four commercial and eight residential units, a 16-unit mixed-use property with one commercial and 15 residential units, and a five-unit residential property. Residential units range from studios to three-bedroom apartments.
Located within 1.2 miles from one another, the properties are near Marist and Vassar Colleges and the Culinary Institute of America.
"This transaction demonstrates that well-located multifamily assets continue to attract strong investor interest, even when significant value-add work is required," said Brian Kaplan in Marcus & Millichap's New Jersey office. "The portfolio included several apartment units requiring substantial renovation as well as outstanding town and fire department requirements. We identified a buyer with the vision, capital and patience to execute the business plan, creating a successful outcome for both parties."
Kaplan, in association with John Horowitz, the firm's broker of record in New York, exclusively marketed the property on behalf of the seller, GSP One LLC.
The portfolio totals 28,990 square feet and is located at 509-513 Main St., 78-82 and 84-86 Garden St. and 30 Kelsey Road. The three properties include a 12-unit mixed-use building with four commercial and eight residential units, a 16-unit mixed-use property with one commercial and 15 residential units, and a five-unit residential property. Residential units range from studios to three-bedroom apartments.
Located within 1.2 miles from one another, the properties are near Marist and Vassar Colleges and the Culinary Institute of America.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on June 17, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 19, 2026 at 21:02 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]