The two-story, 25-foot-wide commercial building is in need of large-scale renovations, according to Massey Knakal broker Christopher Brodhead, who exclusively repped the seller. The tenant was represented by Coldwell Banker Commercial. The ground floor has open space outfitted for a banquet hall with a bar area and commercial kitchen, while the upper floor is open office space.

"This was a very underutilized building owned by a religious organization," points out Brodhead. "The owner will channel the income received from the lease to fund its good works abroad."

In another Massey Knakal deal in a hot neighborhood, an 8,722-sf corner development at 358-64 Bowery in Chelsea trades in an all-cash transaction valued at $5.5 million. The buyer, Bowery Bar, can develop an office building or hotel with approximately 43,610 sf, or approximately 56,694 sf for a community facility. Located at the corner of Bowery and East 4th St., it is currently leased to the B Bar Grill and Café. That lease has a termination clause that would allow for the increased development on the site.