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

Four Nothern Manhattan Commercial Properties Sold For $19,000,000

12/20/2012

Massey Knakal is pleased to announce that four properties located at 4168 Broadway, 3560 Broadway, 553 West 146th Street, and 538 West 147th Street have sold for a combined sales price of $19,000,000.

4168 Broadway is a 104 feet wide, six- story, 85,200 square foot corner building with two ground floor retail stores and a parking garage.  The parking garage is approximately 77,000 square feet and holds a capacity of 590 cars. Ownership recently installed three new elevators to service the parking tenants.  The property has future potential to be converted into a multi-level retail destination.

3560 Broadway is a three-story (plus cellar) commercial building offering 100 feet of frontage on the northeast corner of Broadway and West 146th Street.  Directly behind is a 20,000sf vacant theater with an attached 5,000 sq. ft. lot that extends through West 147th Street.  The theater’s exterior only was designated as an official landmark of New York City in 2000 because of its history, aesthetics, and value to the development and cultural heritage of the city. The exterior of the theater represents two neo-Renaissance style facades. The windows are large and arched with cast-iron and terra-cotta detailing. In 1928, the theater was sold and converted into one of the first movie theaters to show “talking pictures” in New York City.

“Northern Manhattan continues to remain one of the city’s most resurgent and thriving neighborhoods. Commercial property investors were eager to capitalize on the new found strong demand for local amenities,” said Massey Knakal Chairman Bob Knakal, who exclusively handled this transaction with First Vice President of Sales Robert Shapiro.

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

12/20/2012 - 10:30

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here