In a more unique transaction, Massey Knakal was the sole broker effectuating a 99-year, $23 million ground lease at 10-12 Bond St that will be developed into a boutique hotel. The site, with a buildable size of 19,150 sf, is located at the northwest corner of Bond and Lafayette Streets.
"Development opportunities in this neighborhood are few and far between," explains James Nelson, managing director, who along with Michael Soleimani, exclusively represented the landlord in the transaction. "They are commanding significant dollars from the acquiring community."
In a transaction valued at approximately $8.5 million, the six-story, elevatored building at 180 Claremont Ave., one block east of Riverside Drive on the corner of LaSalle and Claremont was sold. There is a total of 38 residential units and two stores. Fifteen of the apartments were renovated. Other improvements to the building include a new roof, windows, boiler, plumbing and upgraded electrical systems.
"Demand for multi-family continues to be outstanding," states Marco Lala, managing director of Massey Knakal who along with company chairman, Robert Knakal represented the seller exclusively in this transaction. Massey Knakal Realty Services was the only broker in this transaction. The legal representative of the purchaser was Anthony Bottitta, Esq. and the legal representative of the seller was Breger Gorin & Leuzzi.
In an all cash transaction valued at approximately$2.4 million, the 17,000 sf factory building at 43-23/29 35th Street in Long Island City was sold.
"We obtained a record price for an industrial building in this location of over $142 per sf," says Simon Snyder, director of sales at Massey Knakal, which represented the seller in this transaction, while the purchaser was represented by Kaplan BeloAssociates Inc.
A five-story, mixed-use building containing 47 apartments and six retail stores.at 2331-2337 Second Avenue at 120th Street sold for nearly $3.2 million. "Multi-family properties in Harlem have been extremely highly sought after", stated Shimon Shkury, director of sales at Massey Knakal who along with Mark Massey, exclusively represented the seller in this transaction.
Massey Knakal then represented the landlord in a nearly $3.7 million all-cash commercial/retail condominium located at the northwest corner of Fifth Avenue and 15thStreet in the Park Slope section of Brooklyn. Retail tenants include Blockbuster Video,Rent-A-Center, Harper Fitness and Park Slope Billiards. The property was fully occupied at the time of sale. Thomas Donovan, executive managing director and Tim King and Ken Freeman of Massey Knakal's Brooklyn office coordinated the marketing efforts for the seller.
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