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

Massey Knakal Sells Development Site In Hudson Square

06/06/2014

A development site at 537-545 Greenwich Street, located between Charlton and Vandam Streetsin Manhattan’s Hudson Square neighborhood, was sold in an all-cash transaction valued at over $50,000,000.

The site consists of an approximately 10,000 square foot lot which measures 100’ x 100’.  It currently contains a six-story, approximately 57,500 square foot fireproof warehouse.  There are two elevators and four staircases in the building as well as two loading docks and two separate walk-in entrances.  The site contains approximately 100,000 buildable square feet.

The development site is located in Hudson Square, one of Manhattan’s most rapidly emerging neighborhoods.

“With the recent rezoning of Hudson Square permitting residential use as of right, this property caught the interest of all the major Manhattan developers,” said Massey Knakal’s Robert Burton, who exclusively represented the seller in this transaction.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

06/06/2014 - 10:15

Source

Cushman & Wakefield Capital Markets Group New York

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