Press Release brought to you by Marcus & Millichap

LOWER MANHATTAN MIXED-USE BUILDING BRINGS $10.8 MILLION

10/28/2013

NEW YORK, Oct. 28, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of 123-127 Lafayette St., a partially vacant six-story elevator office building located between Canal Street and Howard Street in Lower Manhattan. The $10,850,000 sales price equates to $663 per square foot. The sale was an all-cash transaction. 

Barbara Dansker in Marcus & Millichap’s Manhattan office, represented the seller, an owner/user. Dansker also represented the buyer, Stellar Management, a New York-based developer.   

“The building’s current configuration is three ground-floor retail units with eight office suites above,” says Dansker.“However, the existing certificate of occupancy allows for retail on the first three floors, which helps make the building a prime candidate for redevelopment.”

“The area is exploding with activity and renewal,” adds Dansker.

           

Contact: Gina Relva, Public Relations Manager

(925) 953-1716 

 

 

10/28/2013 - 14:16

Source

Marcus & Millichap

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