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

Massey Knakal Retained Exclusively To Sell Commercial Building On Upper West Side

01/27/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a commercial building at 204 West 84th Street. The property is located between Amsterdam Avenue and Broadway on Manhattan’s Upper West Side.  The asking price is $8,500,000.

The three-story building contains approximately 6,625 square feet and sits on a 25’ x 102.17’ lot.  It was fully gut renovated in the late 1980s for use as an office building. With an additional approximately 2,550 square feet of usable basement space, it features four floors of usable space.  It is currently configured as a series of office suites spanning all four floors which share a common reception area and conference room.  The upper floors feature picturesque views of West 84th Street and terraces on the rear of the second and third floors.  The dropped ceilings range between eight and nine feet, but it may be possible to open them back to their original heights which exceed 11 feet.  Each floor has a separate air-conditioning system, his and her bathrooms, and a kitchenette.  The basement has approximately eight foot ceilings, is built full on the lot, and is currently occupied by a recording studio.  The building is sprinklered, heated by a gas-fired boiler, and individually metered by floor for electric.

This property lies outside of the Upper West Side Historic Districts and benefits from additional air rights.  It may be possible to use the air rights to construct additional residential square footage atop the existing building.

“This property is a unique opportunity for purchasers looking for live/work possibilities on the Upper West Side. Office space is extremely tight in the neighborhood and there are few, if any, available opportunities permitting retail, office, and residential use under the same roof,” said Massey Knakal’s Hall Oster, who is exclusively marketing this property with Paul Smadbeck.

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

01/27/2014 - 10:27

Source

Cushman & Wakefield Capital Markets Group New York

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