Massey Knakal Retained Exclusively To Sell Mixed-Use Building In The East Village
Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use building at 28 East 14th Street, located between University Place and Fifth Avenue in Manhattan’s East Village neighborhood. The asking price is $30,000,000.
The five-story building contains approximately 11,875 square feet and sits on a 25’ x 103.25’ lot. It consists of a ground floor retail unit and eight residential units, all of which are free market. The building features approximately 25 feet of frontage on East 14th Street, directly east of Union Square. It benefits from additional development rights and is within a block of several major subway stops. This offering presents an excellent opportunity for an investor looking for stable in-place cash flow on one of the best retail corridors in Manhattan or a condominium conversion opportunity.
“Benefiting from its close proximity to Union Square station, which according to the MTA is the fourth busiest subway station in Manhattan with over 35,000,000 annual travelers, 28 East 14th Street stands to gain from the continued success of the 14th Street retail corridor,” said Massey Knakal’s James Nelson who is exclusively marketing the property along with Matthew Nickerson.