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

Massey Knakal Sells Apartment Building In Kips Bay

11/03/2014

An apartment building at 225 East 30th Street, located between Second and Third Avenues in Manhattan’s Kips Bay neighborhood, was sold in an all-cash transaction valued at $4,765,000.

The four-story, six-unit, walk-up building contains approximately 4,396 square feet and sits on a 20’ x 98.75’ lot. It consists of a floor-through, three-bedroom apartment on the ground floor with exclusive access to a 500-square foot private garden. The second floor is also configured as a floor-through, three-bedroom apartment. The third floor has two, one-bedroom apartments with the rear apartment having access to a 430 square foot private deck. The fourth floor also has front and back one-bedroom apartments. All the apartments benefit from an abundance of natural light and have working fireplaces that have been re-lined. They are heated via baseboard from a gas boiler in the basement and are all individually metered for cooking gas and electric. The sale price equates to approximately $1,084 per square foot.

“At $1,084 per square foot, this sale represents a record for a walk-up apartment building in Kips Bay,” said Massey Knakal’s John F. Cirualo, who exclusively handled this transaction with Hunter Moss.  “Our client was very pleased with our marketing process which produced numerous strong offers for the property,” added Hunter Moss.

www.masseyknakal.com

11/03/2014 - 12:10

Source

Cushman & Wakefield Capital Markets Group New York

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