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

Massey Knakal Retained Exclusively To Sell Loft Building / Conversion Site Between East Village And Greenwich Village

04/28/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use loft/conversion building at 61 Fourth Avenue (aka 61 Park Avenue South). The property is located between East 9th and East 10th Streets on the border of Manhattan’s East Village and Greenwich Village.  The asking price is $15,500,000.

The six-story building contains approximately 13,230 square feet and sits on a 24’ x 96.3’ irregular lot.  Although the current Certificate of Occupancy is a mix of office and art studio space, the building could be converted to residential as-of-right and it will be delivered vacant. 

“New condominium inventory is very tight in Greenwich Village and NoHo.  Currently, there are only 72 units available in new developments, with the average price per square foot hovering around $2,746,” said Massey Knakal’s James P. Nelson, who is exclusively marketing this property with Chairman Bob Knakal and Mitchell Levine.

The property presents a great condominium conversion opportunity or live-investment in an amazing location straddling the East Village and Greenwich Village just north of Astor Place.  It is across the street from Facebook’s new office and one block from 51 Astor Place, which will soon be the headquarters of IBM Watson and 1stdibs.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

04/28/2014 - 08:43

Source

Cushman & Wakefield Capital Markets Group New York

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