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

Massey Knakal Retained Exclusively To Sell Mixed-Use Building In Harlem

11/13/2012

Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use building at 452 West 145th Street. The property is located between Amsterdam and Convent Avenues in the Hamilton Heights Historic District of Harlem. The asking price is $1,195,000, a 6.5% cap.

The four-story walk-up apartment building is approximately 3,328 square feet and sits on a 16’ x 99.92’ lot. There is approximately 3,086 square feet of additional air rights which could potentially be used to build out the back of the building. The residential units are rent stabilized, with excellent tenancy.  Most of the apartments are renovated.

Situated along a commercial corridor in Harlem, this property is conveniently located near City College and one block from the B, C, and D trains.  This is an excellent opportunity for an investor who is looking for strong-in place cash flow or a user looking to take occupancy of the commercial space upon expiration.  “With rents in the area and this neighborhood in particular trending upwards, we expect an investor and / or user to do very well with this acquisition,” said First Vice President of Sales Josh Lipton.

For more information on this listing, contact Massey Knakal Director of Sales Mitch Levine, First Vice President of Sales Josh Lipton or Partner James Nelson 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

11/13/2012 - 12:45

Source

Cushman & Wakefield Capital Markets Group New York

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