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

Massey Knakal Retained Exclusively To Sell 37 Condominium Unit Package In North Bushwick

08/12/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a 37 condominium unit package situated within 358 Grove Street. The property is located between Irving and Wyckoff Avenues in Brooklyn’s North Bushwick neighborhood. The asking price is $11,000,000.                                                        

The package consists of 35 residential and two commercial condos. The residential condos total approximately 25,477 square feet and are currently occupied as free market rental units.  The commercial units, which total approximately 7,850 square feet, are designated community facility units and are currently occupied by nonprofit organizations.  Additionally, there are 40 parking spaces and eight rooftop cabanas included in the offering.  The condos and saleable amenities account for, in aggregate, approximately 65% of common interest, allowing for a majority stake and control of the board. 

This package offers a unique opportunity for an investor to acquire considerable scale and neighborhood exposure, with substantial income in place and significant selloff potential down the line.  The building is located just three blocks from the J and M trains at Myrtle and Wyckoff Avenue, providing access to lower Manhattan within 30 minutes.

“This offering presents a rare opportunity to own a majority stake in North Bushwick’s most prominent residential high-rise,” said Director of Sales Michael Amirkhanian, who is exclusively marketing this package.

For more information on this listing, contact Michael Amirkhanian at 718.238.8999.

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

08/12/2013 - 08:36

Source

Cushman & Wakefield Capital Markets Group New York

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