Multifamily i Ohio

Marcus & Millichap sells key apartment building in Cleveland

Marcus & Millichap sells key apartment building in Cleveland,ph01

Marcus & Millichap closed the sale of The Esmond, a 24-unit apartment property at 4806 Euclid Ave. in the Midtown neighborhood of Cleveland, Ohio. The asset sold on Feb. 15.

William P. Koontz, Charles R. Gagliano, Michael S. Barron, Daniel J. Burkons and Joshua L. Wintermute, investment specialists in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

The Esmond was originally built in 1898 by John Eisenmann, who also built the renowned Cleveland Arcade. The seller originally purchased the building in 1984 and restored the architectural details of its “Millionaire’s Row” roots. The building has historically been a popular residence for artists, musicians and creative professionals alike and has been called home by several Cleveland celebrities.