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

Massey Knakal Sells Brownstone in Harlem

08/15/2012

A multifamily brownstone at 66 East 127th Street, located between Madison and Park Avenues in Central Harlem, was sold in an all-cash transaction valued at $650,000.

The three-story property is approximately 3,489 square feet and sits on an 18.75’ x 99.92’ lot. The zoning allows for a total of 6,443 buildable square feet. It is classified as an SRO with 2 Class-A units and 9 Class-B units.   The property is located a few blocks from the 125th Street retail corridor, Marcus Garvey Park as well as subways and the Metro-North.  The sale price equates to approximately $186 per square foot.

“Due to the high demand for brownstones in Harlem, we were able to generate a great deal of interest in this property, which resulted in all-cash offer at the asking price,” said Massey Knakal Director of Sales Lev Kimyagarov who exclusively handled this transaction with Vice President of Sales Thomas D. Gammino Jr.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.

08/15/2012 - 09:34

Source

Cushman & Wakefield Capital Markets Group New York

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