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

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

07/21/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a mixed-use building at 48 MacDougal Street. The property is located between Houston and Prince Streets in Manhattan’s SoHo neighborhood. The asking price is $7,350,000

The three-story walk-up building contains approximately 4,440 square feet and sits on a 20.83’ x 75’ lot. It consists of a ground floor restaurant and two duplex apartments above that each have two full bathrooms with exclusive outdoor space. The units feature large skylights, 20’ ceilings, oversized windows and a separate kitchen with dishwasher. The property benefits from approximately 995 square feet of air rights, presenting an excellent opportunity for a user to convert the above floors to a single-family residence while collecting income from the ground floor. An investor may also look to utilize the long-term upside in the retail rents.

The property is located in the desirable SoHo neighborhood, known as a vibrant international destination with excellent restaurants, retail shops, five star hotels and multiple art galleries and museums. Transportation is easily accessible with the Spring Street subway station just around the corner with access to the C and E trains and the West 4th Street station in close proximity with access to the B, D, F, M trains. There are also multiple bus lines servicing the area.

“We anticipate strong interest in this property from users looking for live plus income opportunities, because of the lack of this product type in the market,” said Partner James Nelson who is marketing the property with Robert Burton. “This property is ideally located on a quiet side street of SoHo, minutes away from some of the best shopping in the world,” added Burton.

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

07/21/2014 - 12:36

Source

Cushman & Wakefield Capital Markets Group New York

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