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

Massey Knakal Sells Mixed-Use Building In Bushwick

04/10/2013

A mixed-use building at 228 Wilson Avenue, located between Myrtle Avenue and Harman Streetin Brooklyn’s Bushwick neighborhood, was sold in an all-cash transaction valued at $800,000.

The three-story building contains approximately 4,200 square feet and sits on a 25’ x 80’ lot.  It is currently configured as four residential units atop two rear residential units and two front side-by-side retail spaces.  The sale price equates to approximately $190 per square foot.

The building is located in Central Bushwick a half-block from Myrtle Avenue, providing foot traffic for retail tenants as well as convenient access to stores and transportation.  The M subway stop at Knickerbocker Avenue is only one block away offering easy access to Manhattan in less than 15 minutes.

“With sales pushing towards $200 per square foot, we are seeing a new depth in the market for mixed-use properties along the Wilson Avenue retail corridor in Bushwick.  This activity is directly correlated to the growing confidence among investors in retail in this rapidly transitioning neighborhood,” said Massey Knakal Director of Sales Michael Amirkhanian, 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

04/10/2013 - 13:30

Source

Cushman & Wakefield Capital Markets Group New York

Want more news about Cushman & Wakefield Capital Markets Group New York? Click here