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

Massey Knakal Sells Mixed-Use Building In Greenpoint

11/06/2014

A mixed-use building at 801 Manhattan Avenue, located between Calyer Street and Meserole Avenue in the Greenpoint neighborhood of Brooklyn, was sold in an all-cash transaction valued at $2,700,000.

The three-story building contains approximately 3,850 square feet and sits on a 25’ x 75’ lot. Fully-occupied, it consists of two floor-through apartments directly above a ground floor retail space.  The sale price equates to approximately $701 per square foot.

The property is centrally located on the major retail corridor of Greenpoint, just three blocks from the Nassau Avenue G train station and four blocks from McCarren Park.

“Property on Greenpoint’s main corridor rarely sells, and when it does it’s almost never offered publicly to a wide audience of buyers. As a result, the response to our marketing was overwhelming,” said Massey Knakal’s Mark L. Lively, who exclusively handled this transaction with Brendan T. Maddigan.  “There were nearly three dozen offers within the first two weeks and the property sold for well over the asking price, with one of the highest price per square foot figures ever achieved for Manhattan Avenue,” added Maddigan.

www.masseyknakal.com

11/06/2014 - 12:19

Source

Cushman & Wakefield Capital Markets Group New York

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