Massey Knakal Sells Commercial Building In NoHo
Massey Knakal Realty Services has sold a commercial building at 736 Broadway. The building is located on the east side of Broadway between Astor Place and Waverly Place in Manhattan’s NoHo. It was sold in a transaction valued at $8,700,000.
The subject property is an 11-story, former manufacturing building and is situated in one of Downtown Manhattan’s most important shopping corridors. The building features approximately 30,000 gross square feet and offers over 1,500 square feet of vacant retail space. The upper floors consist of full-floor loft units, and are a mix of commercial spaces and interim multiple dwellings.
“Whenever retail space is vacant, it presents investors with the opportunity to take advantage of current market conditions. At 736 Broadway, the buyer also has the potential to enhance the performance of the upper portion of the building,” stated Massey Knakal Chairman Bob Knakal, who exclusively handled this transaction with Partner James Nelson.
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.