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

Massey Knakal Retained Exclusively To Sell 100 Foot Wide Development Site Located In Sugar Hill

08/28/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a development site at 542 West 153rd Street. The property is located between Broadway and Amsterdam Avenue in Manhattan’s exclusive Sugar Hill neighborhood. The asking price is $3,500,000.

The site contains approximately 29,976 buildable square feet on a 100' x 99.92' lot.  It was recently rezoned to R6A which allows for 3.0 FAR as-of-right.

“Demand for developments sites in Northern Manhattan has come roaring back” said Massey Knakal’s Robert M. Shapiro, who is exclusively marketing this site with Josh Lipton.  “We expect activity to be robust as investors continue to stimulate a neighborhood already in the midst of transition,” Robert added.

Conveniently located near the burgeoning Broadway and Amsterdam retail corridors, this multifamily development is primed to take advantage of the increased rental demand and developing condominium market in the neighborhood.  It is close to neighborhood anchors such as The City College of New York, Columbia University, and Riverbank and St. Nicholas Parks.  Public transportation is easily accessible via the 1 train stops at Broadway and 145th or 157th Streets and the A, B, C, and D train stop at St. Nicholas Avenue and West 145th Street.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

08/28/2013 - 08:21

Source

Cushman & Wakefield Capital Markets Group New York

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