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

Massey Knakal Retained Exclusively To Sell Flatiron Building In The Flatiron District

12/04/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell a high-end loft buildingat 52 West 21st Street. The property is located between Fifth Avenue and Avenue of the Americas in the heart of Flatiron’s Ladies’ Mile Historic District. The asking price is $4,500,000.

This five-story, walk-up building is approximately 5,278 square feet and sits on a 15.08’ x 92’ lot.  It consists of a ground floor retail unit leased through January, 2021 and four fully renovated floor-through free market apartments above.  The site also contains approximately 8,642 square feet of air rights.

Originally built in 1862, the building underwent a complete transformation that included façade work, gut rehabilitation of each floor, and new mechanical systems.  All units have individual gas boilers and hot water heaters with separate metering.  A Certificate of Appropriateness was issued in February of 2008 allowing the current owner to make alterations to the existing façade which included the installation of new windows, a cornice, and new storefront.  This property is ideal for live/investment opportunity or long-term hold.

“It’s rare that a newly renovated, fully occupied building with all market rents comes to market. We expect to see a lot of interest from year end buyers looking to complete a 1031 exchange,” said Massey Knakal Director of Sales Brock Emmetsberger, who is exclusively marketing this property with Vice Chairman John Ciraulo and Director of Sales Craig Waggner.

For more information on this listing, contact John Ciraulo, Brock Emmetsberger, or Craig Waggner.  All can be reached 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.

www.masseyknakal.com

12/04/2012 - 12:00

Source

Cushman & Wakefield Capital Markets Group New York

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