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

Massey Knakal Sells Apartment Building In Bedford-Stuyvesant

08/09/2013

An apartment building at 886 Jefferson Avenue, located between Howard and Ralph Avenuesin Brooklyn’s Bedford-Stuyvesant neighborhood, was sold in an all-cash transaction valued at $985,000.

The three-story, six-unit building contains approximately 4,875 square feet and sits on a 25’ x 100’ lot.  The building has been well-maintained, preserving its classic character.  The sale price equates to approximately $202 per square foot.

This building is ideally located just two blocks from both the Broadway retail corridor, providing close proximity to grocery stores, dry cleaning, shopping, and restaurants, and the J train at Halsey Street, offering convenient access to Manhattan and Williamsburg in less than 15 minutes.

“The seemingly insatiable demand for vacant multifamily product resulted in a competitive bidding process which pushed the sales price to over $100,000 above the asking price,” said Massey Knakal Director of Sales Michael Amirkhanian, who exclusively handled this transaction.

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

08/09/2013 - 08:15

Source

Cushman & Wakefield Capital Markets Group New York

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