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

Massey Knakal Retained Exclusively to Sell Corner Retail Condominium in Central Harlem

12/31/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail condominium located at the base of The Morellino at 1961 Adam Clayton Powell Boulevard. The property is located on the corner of Adam Clayton Powell Boulevard and West 118th Street in Manhattan’s Harlem neighborhood.  The asking price is $3,950,000.

The condominium contains approximately 4,936 square feet and features 100 feet of wrap-around frontage.  It is split into six units, of which two are leased and four are currently vacant.

The property is situated less than three blocks from the 2, 3, A, B, and C subway stops at 116th Street, driving long-term foot traffic to the location.  This is an excellent opportunity for an investor to capitalize on in-place cash flow with substantial upside in the vacant units in a rapidly expanding neighborhood.

“While this retail condo is currently divided into six individual units, it can be easily combined into one large space, attracting a wide variety of tenants,” said Massey Knakal’s James Nelson, who is exclusively marketing this property with by Lev Kimyagarov. “This retail condominium represents an attractive investment opportunity given the lack of high-quality retail space available for purchase in the area,” said Lev Kimyagarov.

www.masseyknakal.com

12/31/2014 - 11:00

Source

Cushman & Wakefield Capital Markets Group New York

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