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.