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Massey-Knakal Closes Exclusive $60M Deal

NEW YORK CITY-TIAA-CREF has moved on up to the East Side with its purchase of an Italian Renaissance building, highlighting this week's deal tracker.

By Rayna Katz | Updated on January 11, 2013

New York City

A rare real estate gem has sold on the tony Upper East Side. In a transaction valued at $60 million, TIAA-CREF has purchased 1511 Third Ave., an apartment building on the northeast corner of Third Avenue and East 85th Street, from Related Cos. Massey Knakal’s chairman Bob Knakal exclusively handled this transaction, with VP Thomas Gammino. The property is an Italian Renaissance revival landmark that spans approximately 60,000 square feet. It sits one block south of 86th Street, the busiest retail artery in the area, and has long-term leases with two retail tenants: the Gap and Equinox.

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