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

Massey Knakal Ranked NYC's #1 Building Sales Firm For 13th Consecutive Year


Massey Knakal Realty Services is pleased to announce their#1 ranking for the thirteenth consecutive year on CoStar’s list of Top Brokerage Firms for NYC Commercial Property Sales. According to CoStar data, in 2013, Massey Knakal handled 330 transactions totaling over $2.8 billion dollars.

“For the 13th year in a row, Massey Knakal has been ranked the #1 New York brokerage firm by transaction volume because our unique business model enables our agents to cooperate effectively and be the most knowledgeable in the industry, which results in premium, and in many cases, record pricing for our clients,” said Massey Knakal’s CEO Paul J. Massey Jr. 

Several notable transactions completed by Massey Knakal in 2013 include:

The fee position of 600 Madison Avenue, an office building with retail located in the heart of the Plaza District was sold subject to a long-term ground lease for $210,000,000, which equates to a 1% yield, based on in-place income. 

49 Bond Street, a development site in Downtown Brooklyn, was sold in a transaction valued at $70,000,000.  The site can potentially be home to a massive mixed-use development project that incorporates significant amounts of retail and residential space.

The Bowery Portfolio, consisting of 11 mixed-use properties located between Houston and Canal Streets on the prime retail and residential streets of the Bowery, was sold in an all-cash transaction valued at $62,000,000, to an investor group led by Joseph Betesh of Milestone Equities.

164-168 Canal Street, a six-story building that contains approximately 49,950 square feet on a 47’ x 100’ lot, was sold an all-cash transaction valued at $61,900,000.  Approximately 70% of the building is occupied by credit tenants Citibank and NY Life & Co.  This property features two lobbies and is serviced by two high-speed elevators, a full-time concierge, central HVAC throughout the entire building, and security cameras. 

A 58-unit, 12-story elevatorapartment building at 200 East 11th Street, located on the corner of East 11th Street and Third Avenue in Manhattan’s East Village, was sold in an all-cash transaction valued at $57,000,000.  The building contains 55 free market units and three ground floor retail units.

The former St. John’s Hospital building at 90-02 Queens Boulevard andparking garage at 87-28 58th Avenue, located in the Elmhurst neighborhood of Queens, was sold in a transaction valued at $47,000,000.

“This accomplishment is a direct result of having the best and brightest sales force and support staff in the industry,” added Neil Heilberg, COO.  

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

05/05/2014 - 17:17


Cushman & Wakefield Capital Markets Group New York

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