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

Massey Knakal Retained Exclusively To Sell Mixed-Use Building Located On Upper East Side

08/20/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use building at 158 Rivington Street. The property is located between Suffolk and Clinton Streets on Manhattan’s Lower East Side. The asking price is $7,250,000.

The six-story walk-up building contains approximately 7,452 square feet and sits on a 23’ x 100’ lot.  It consists of two retail units on the ground floor and nine residential units on the upper floors. Of the residential units, there are two one-bedroom units on each floor on floor two through five and there is a recently added two-bedroom penthouse with outdoor terrace on the sixth floor.  The building was gut-renovated in the 1990s and holds approximately 2,151 square feet of additional air rights.

The building is steps from the Seward Park Urban Renewal Area (SPURA).  Community Board 3 recently approved the city’s land use application for a 1.65 million square foot mixed-use project, which would bring approximately 900,000 square feet of new apartments and 600,000 square feet of shops and community facilities to the Lower East Side.  Neighbors include The Lower East Side Tenement Museum, Streit’s, and a new hotel to the south on Delancey Street.  In addition, the property is two blocks from the Delancey Street-Essex Street subway stop, providing access to the F, J, M and Z trains.

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

08/20/2013 - 09:01

Source

Cushman & Wakefield Capital Markets Group New York

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