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

Massey Knakal Retained Exclusively To Sell Mixed-Use Building In Flatiron / Chelsea

04/29/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use building at 55 West 19th Street. The property is located between Fifth and Sixth Avenues in the Ladies’ Mile Historic District of Manhattan’s Flatiron and Chelsea neighborhoods. The asking price is $9,950,000.

The five-story elevator-serviced building contains approximately 8,905 square feet and sits on a 28’ x 92’ irregular lot.  Built in 1854, it consists of a retail store on the ground floor, floor-through commercial lofts on floors two and three, and a residential owner’s duplex on floors four and five with private roof deck.  The top three floors can be delivered vacant and the lease of the first two floors expires in September 2016, making this property ideal for an end-user as live/work, live/invest or as an investment property. 

This exceptional opportunity is located in the desirable Flatiron/Chelsea District, which has benefited tremendously over the last few years from the influx of high-end luxury retail stores lining Fifth Avenue, Sixth Avenue, and Broadway.  Burgeoning office rents and nation-leading low vacancy rates from the technology, advertising, media, and information sectors, coupled with the surge in recent residential conversions and developments, have made the Flatiron area one of the most desired neighborhoods to live and work in the city.  The property has convenient access to every major subway line, the major employment centers of Midtown South, the Chelsea gallery district, Gramercy and Madison Square Parks, and world class shopping in SoHo, making this property a truly one-of-a-kind investment opportunity. 

This property is being marketed exclusively by Massey Knakal’s John F. Ciraulo and Brock Emmetsberger.

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.

04/29/2014 - 08:27

Source

Cushman & Wakefield Capital Markets Group New York

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