Massey Knakal Sells Mixed-Use Building In Greenwich Village
A mixed-use building at 107 Greenwich Avenue, located between Jane and West 12th Streetsin Manhattan’s Greenwich Village neighborhood, was sold in a transaction valued at $4,750,000.
The four-story Greek Revival townhouse contains approximately 3,352 square feet and sits on a 20’ x 72.5’ irregular lot. It is currently configured with a floor-through unit, duplex unit, and retail unit. The sale price equates to approximately $1,417 per square foot.
“We have been fortunate to sell this property twice over the last few years. The increase in value is a testament to the strength of the market,” said Massey Knakal’sJames P. Nelson, who exclusively handled this transaction along with team member, David Shalom.
The property was purchased by Mark Geragos, a prominent trial attorney whose client list has included Michael Jackson, Mike Tyson, Chris Brown, and Sean Combs. Geragos is also a legal analyst on CNN’s Anderson Cooper 360, where he comments on high profile legal cases. Geragos has always had a passion for real estate, and in particular, for buildings which are historically significant. Since a young age, he has bought and sold hundreds of properties throughout California and has recently broadened his real estate portfolio to include investments in New York. In 2012, Geragos purchased 256 Fifth Avenue as the New York offices of his Los Angeles-based law firm, Geragos & Geragos. Geragos was represented in this transaction by New York real estate attorney Yelena Nersesyan of Busson & Sikorski, who also represented him in the purchase of 256 Fifth Avenue.
This property is centrally located in Greenwich Village and benefits from its proximity to shopping and dining. It is one block west of The Greenwich Lane, a collection of five unique addresses and five new townhouses that surround one lush central garden. Additionally, just steps away at the corner of West 12th Street and Greenwich Avenue will be a new three-sided, 1,600 square foot park area with an 18-foot high canopy.
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.