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

Massey Knakal Sells Industrial Building In Hunts Point

10/03/2012

An industrial building at 941-953 Longfellow Avenue, located on the northwest corner of Garrison and Longfellow Avenues in the highly desirable Hunts Point neighborhood of the Bronx, was sold in an all-cash transaction valued at $1,205,000.

The property is currently separated into two units. One unit is approximately 100' x 100' for a total of 10,000 square feet. The second unit, fronting Longfellow Avenue, is approximately 8,331 square feet (inclusive of approximately 500 square feet of office space). The property features 13’+ ceilings throughout, three large roll down garage doors (two are motorized), two personnel doors, one indoor/outdoor loading dock, and a dry sprinkler system. The garage doors measure approximately 20’ x 15’. The building may easily be used as one unit as the two sections are separated by large interior fire doors.  The sale price equates to approximately $68 per square foot.

The Hunts Point peninsula is bounded by the Bruckner Expressway and the CSZ/Amtrak rail corridor. The Expressway connects Hunts Point to Interstate-95, and the ports of New York and New Jersey. Furthermore, Hunts Point is located just 15 minutes from Manhattan and 30 minutes to the boroughs, Westchester, New Jersey and Connecticut.

“The property was delivered vacant and in fair condition.  It was purchased by an end-user as the distribution hub for their merchandising business,” said Massey Knakal Director of Sales Nick Burns, who exclusively handled 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 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

10/02/2012 - 16:04

Source

Cushman & Wakefield Capital Markets Group New York

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