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

Massey Knakal Retained Exclusively To Sell Newly-Built Commercial Building With Air Rights In Harlem

05/13/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell a newly-built commercial building at 51-55 East 125th Street. The property is located on the northeast corner of Madison Avenue and East 125th Street in Harlem. The asking price is $15,000,000.

The three-story elevator building contains approximately 15,100 square feet on a 7,621 square foot corner lot, with a combined 142 feet of frontage on 125th Street and Madison Avenue. Its C4-4D/125 zoning allows for an additional approximately 39,771 square feet of buildable space with an inclusionary housing bonus. As the property will be delivered as vacant, new ownership will have the ability to position the asset as the premiere commercial building in the area. New ownership will also benefit from a legal billboard on the building, which is rare on 125th Street, one of the city’s busiest corridors.

The property is surrounded by a tremendous amount of new development and it is easily accessible by the 4, 5, 6 subway lines, Metro-North Railroad, and numerous bus lines.

“This represents a fantastic opportunity for an investor to own a prime retail corner on the rapidly developing East 125th Street,”said Massey Knakal’s Lev Kimyagarov, who is exclusively marketing this property.

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.

05/13/2014 - 08:41

Source

Cushman & Wakefield Capital Markets Group New York

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