Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

60-Unit Residential Building In Carroll Gardens Sold By Massey Knakal

05/17/2012

A residential building at 204 Huntington Street, located on the southwest corner of Huntington and Smith Streets in Brooklyn’s Carroll Gardens neighborhood, was sold in an all cash transaction valued at $24,500,000.

The three-story plus penthouse, residential building is approximately 62,404 square feet and sits on a 94.5’ x 185.5’ lot with 270 feet of total frontage. The elevator building has 60 units consisting of 8 one-bedroom units, 37 two-bedroom units and 15 three-bedroom units. The units range in size from 676 to 1,475 square feet. All of the units have high ceilings ranging from 15 to 26 feet in height. There is a meticulously landscaped courtyard located outside the lobby. The top floor of the building contains five penthouse apartments with private terraces

The building is located less than two blocks from the F and G subway station and offers convenient access to both bus and highway transportation.

“As the rental market continues to strengthen, investors seek the security of quality, income producing properties. This asset represents everything investors look for when placing capital in today’s market,” said Director of Sales Stephen Palmese who exclusively handled this transaction with Massey Knakal Chairman Bob Knakal.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

05/17/2012 - 08:59

Source

Cushman & Wakefield Capital Markets Group New York

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