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

Massey Knakal Sells Mixed-Use Building In Hamilton Heights

05/21/2013

A mixed-use building at 452 West 145th Street, located between Amsterdam and Convent Avenues in the Hamilton Heights Historic District of Harlem, was sold in an all-cash transaction valued at $1,100,000.

The four-story walk-up building contains approximately 3,328 square feet and sits on a 16’ x 99.92’ lot.  It consists of six rent stabilized units and one commercial unit on the ground floor.  There is approximately 3,086 square feet of additional air rights which could potentially be used to build out the back of the building.  The sale price equates to approximately $331 per square foot.

This property is conveniently located near City College on a commercial corridor in Harlem.  The B, C, and D trains are just one block away.

“With the property located on a key commercial corridor in Northern Manhattan and within walking distance to City College, we expect the owner to do very well with this acquisition heading into a very strong rental season,” said Massey Knakal Director of Sales Mitchell Levine, who exclusively handled this transaction with Partner James P. Nelson and First Vice President of Sales Josh Lipton.

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

05/21/2013 - 08:19

Source

Cushman & Wakefield Capital Markets Group New York

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