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

Massey Knakal Retained Exclusively To Sell Former Synagogue On Lower East Side

04/04/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a building at 80 Forsyth Street. The property is located between Grand and Hester Streets on Manhattan’s Lower East Side. The asking price is $6,250,000.

The three-story building with lower level contains approximately 7,055 square feet and sits on a 25’ x 100’ lot.  Built in 1874, it was initially used as a synagogue but was later converted to a townhouse that was occupied by Pat Passlof, a painter, who was married to the late Milton Resnick.  Both Passlof and Resnick were well known Abstract Expressionist painters. The majority of the building benefits from double height ceilings, with amazing light.  It is currently configured with one unit on the lower level and ground floor, one unit on the second floor, and one unit on the third floor.  There are approximately 3,200 square feet of available air rights, and the lot could be developed into either a fully commercial or a mixed-use development of up to approximately 15,180 buildable square feet.  In addition to the historical integrity of the building being maintained incredibly well, there are many unique features including pointed-arch windows, a fireplace, multiple skylights, and more.

“We are excited to bring this very special property to the market, given the history of both the building and the artists who lived and worked there,” says Michael DeCheser, First Vice President of Sales for Massey Knakal. For more information on this listing, contact Michael DeCheser 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

04/04/2013 - 09:34

Source

Cushman & Wakefield Capital Markets Group New York

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