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

Massey Knakal Retained Exclusively To Sell Apartment Building In The East Village

08/06/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell an apartment building at 264 East 10th Street. The property is located between First Avenue and Avenue A in Manhattan’s East Village. The asking price is $6,700,000.

The five-story building contains approximately 5,500 square feet and sits on a 25’ x 92.25’ lot.  It consists of seven residential units, of which six are free market and one is rent stabilized.  The ground floor of the building can be converted to retail as-of-right and the property also benefits from additional air rights. 

This offering presents an excellent opportunity for an investor seeking stable cash flow and tremendous future upside in the highly sought-after East Village.  Alternatively, it could serve as an ideal user opportunity to create a triplex unit. The property is around the corner from Tompkins Square Park and within three blocks of the L train stop at First Avenue. 

“Rarely do multifamily properties come to the market in the East Village and 264 East 10th Street is an ideal investment in one of New York City’s most dynamic submarkets,” said Massey Knakal’s James Nelson, who is exclusively marketing this property with Thomas D. Gammino, Jr.

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.

www.masseyknakal.com

08/06/2014 - 17:27

Source

Cushman & Wakefield Capital Markets Group New York

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