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

Massey Knakal Sells Apartment Building In Hartsdale

12/04/2013

An apartment building at 140 East Hartsdale Avenue, located on the east side of East Hartsdale Avenue off of Rockledge Road in Hartsdale, New York, was sold in an all-cash transaction valued at $17,000,000.

The six-story elevator-serviced building contains approximately 82,794 square feet and consists of 79 residential units.  There are two studios, 42 one-bedroom units, 30 two-bedroom units, and five three-bedroom units.  53 units feature terraces/outdoor space.  The building benefits from two elevators, 28 indoor parking spaces, and 17 outdoor parking spaces.  The sale price equates to approximately $205 per square foot.

The building is located within close proximity to the Bronx River Parkway and just blocks from Central Avenue and the Metro-North train. It is adjacent to the Scarsdale Country Club and has tremendous upside potential.

“This property was owned by long time clients.  We were hired to market the property and maximize its exposure.  We implemented a competitive bidding process and procured the ideal buyer,” said Massey Knakal’s Thomas A. Donovan, who exclusively handled this transaction.  “The buyer of the property is an old-line real estate family who owns additional holdings in the area. The addition of this asset to their portfolio was a natural fit,” he added.

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

12/04/2013 - 15:35

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here