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

Massey Knakal Retained Exclusively To Sell Corner Retail Building On Lower East Side

10/03/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell a corner retail building at 156-164 Delancey Street. The property is located on the northwest corner of Delancey Street and Clinton Street on Manhattan’s Lower East Side. The asking price is $3,950,000. The bid deadline is October 12, 2012.

The single story building boasts 109 feet of frontage in a high traffic location, directly adjacent to the Manhattan entrance of the Williamsburg Bridge. The building currently consists of six commercial units of ideal size, five of which are occupied with most of the leases expiring in next few years. The building receives additional income from billboard advertising on the roof.

“We have two other retail driven properties under contract on Delancey and expect a lot of interest in 156-64 given the demand and price point,” said Michael DeCheser, who focuses on the Lower East Side.

This future development site can be built to nearly 20,000BSF including inclusionary bonus, and given its proximity to the Seward Park Urban Renewal Area, presents a strong future development opportunity.

For more information on this listing, contact Massey Knakal Director of Sales Michael DeCheser or Chairman Bob Knakal at 212.696.2500.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

10/02/2012 - 18:52

Source

Cushman & Wakefield Capital Markets Group New York

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