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

Massey Knakal Sells Corner Retail Building In Middle Village

06/19/2013

Aretail building at 78-02/10 Metropolitan Avenue, located on the corner of Metropolitan Avenue and 78th Road in the Middle Village neighborhood of Queens, was sold in an all-cash transaction valued at $2,939,500.

The single-story building contains approximately 10,300 square feet and sits on a 98’ x 109’ lot.  It is currently comprised of two units. One unit measures approximately 7,000 square feet and the other, which was delivered vacant, measures approximately 3,300 square feet.  The sale price equates to approximately $285 per square foot.

Located in close proximity to several national banks and retailers, this property is a prime opportunity for an investor and offers tremendous upside. 

“This property was purchased by an investor who already had a tenant in place.  The Chase Bank was due to leave because there was already a location nearby,” said Massey Knakal Partner Thomas A. Donovan, who exclusively handled this transaction with Director of Sales Brian J. Sarath.

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

06/19/2013 - 08:53

Source

Cushman & Wakefield Capital Markets Group New York

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