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Massey Knakal Sells Commercial Condominium In Greenpoint

12/09/2013

A commercial condominium in a building at 605-607 Manhattan Avenue, located between Nassau and Driggs Avenuesin Brooklyn’s Greenpoint neighborhood, was sold in an all-cash transaction valued at $1,825,000.

The triple-net-leased condo contains approximately 3,690 square feet on the ground floor with an additional finished lower level.  It is occupied by a yoga studio, spa, and café.  The sale price equates to approximately $495 per square foot.

It is located on a major retail corridor one block from McCarren Park and the Nassau Avenue G train station, benefitting from high visibility and foot traffic. 

“There was a considerable amount of interest in this retail condo as investors clearly recognized the long-term value of Manhattan Avenue as a major shopping corridor for the area,” said Massey Knakals Mark Lively, who exclusively handled this transaction with Brendan Maddigan.

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

12/09/2013 - 11:48

Source

Cushman & Wakefield Capital Markets Group New York

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