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

Massey Knakal Retained Exclusively To Sell Corner Retail Condominium Located In Gramercy Park

06/19/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a retail condominium situated in a brand new 21-story luxury condominium building at 280Third AvenueThe building is locatedon the corner of Third Avenue and East 22nd Street in Manhattan’s Gramercy Park neighborhood. The asking price is $8,500,000.

The ground floor condominium unit contains approximately 2,560 square feet with ceilings 18 feet high.  It benefits from approximately 100’ of wraparound frontage on Third Avenue and 22nd Street.  The retail condominium will be delivered for occupancy in the summer of 2014 and is ideal for mostly any dry-use end-user or an investor.

Toll Brothers is developing the luxury condominium, designed to complement and enhance the distinct neighborhood of Gramercy Park.  The building will be completed with 81 high-end condominium units and a corner retail space.  It is anticipated to achieve LEED Certification with high efficiency HVAC systems and locally sourced, sustainable building materials.  Toll Brothers expects a 421-a tax abatement on the property which reduces the real estate taxes and will be phased in over the first ten years of occupancy.

The property sits two blocks from the #6 subway line and just a short walk from Gramercy Park and the bustling areas of Union Square, Irving Place, Stuyvesant Square, and Madison Square Park.  This structure, with its Indiana limestone exterior and top-of-the-line interior finishes is set to be a modern twist on a timeless classic. 

For more information on this listing, contact Massey Knakal Vice Chairman and Partner John F. Ciraulo and Director of Sales Craig M. Waggner 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

06/19/2013 - 08:48

Source

Cushman & Wakefield Capital Markets Group New York

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