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

Massey Knakal Retained Exclusively To Sell Two Elevator Apartment Buildings In Washington Heights

07/08/2014

Massey Knakal Realty Services has been retained on an exclusive basis to sell two adjacent elevator apartment buildings at 72 and 82 Wadsworth Terrace. The properties are located between West 190th Street and Fairview Avenue in the Washington Heights neighborhood of Manhattan. The asking price is $15,000,000.

The two six-story buildings feature a total of 84 residential units and 234’ of frontage. Combined, the buildings contain approximately 66,460 gross square feet with a unit breakdown of 44 one-bedroom and 40 two-bedroom apartments of which 83 units are rent stabilized and one unit is occupied by the super. Future ownership will have a rare opportunity to capitalize on below market rents in one of Manhattan’s most sought-after, up-and-coming neighborhoods.

The properties are located near the bustling 181st Street and Saint Nicholas Avenue retail corridors as well as neighborhood anchors Yeshiva University, New York Presbyterian Hospital, George Washington Bus Terminal and Gorman Park. Transportation is easily accessible via the 1 train stop at Saint Nicholas Avenue and West 191st Street, as well as the A express train located at 191st and Fort Washington Avenue.

"The buildings are coming out of long-term ownership which presents an excellent value-add opportunity for purchasers," said Massey Knakal’s Hall Oster, who is exclusively marketing these properties with Robert M. Shapiro.

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

07/08/2014 - 09:56

Source

Cushman & Wakefield Capital Markets Group New York

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