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

Massey Knakal Sells Commercial Co-op In Flatiron District

05/15/2013

A commercial co-op located at 6 West 20th Street, between Fifth and Sixth Avenues in Manhattan’s Flatiron District, was sold in an all-cash transaction valued at $3,600,000.

The commercial co-op unit, situated on the sixth floor of an 11-story commercial loft cooperative building, contains approximately 4,500 square feet. It benefits from tremendous light and air quality due to northern and southern exposures. It features ceilings approximately 12.5 feet high, partially exposed brick walls, hardwood floors, new windows, and tenant controlled air conditioning.  The unit also has one passenger and one freight elevator which open directly into the unit.  It was delivered vacant. The sale price equates to approximately $800 per square foot.

The building is within close proximity to Madison Square Park, Union Square, and major public transportation.

“From the start of marketing to closing the whole process took just over two months. After other firms had been trying to sell the space for over two years we ended up having multiple buyers at asking price. This is a true testament to our marketing capabilities in conjunction with a rising market as commercial condos and co-ops have become very desirable for end-users,” said Massey Knakal First Vice President of Sales Brock Emmetsberger, who exclusively represented the seller in this transaction with Vice Chairman and Partner John F. Ciraulo.

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

05/15/2013 - 08:09

Source

Cushman & Wakefield Capital Markets Group New York

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