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

Massey Knakal Sells Mixed-Use Building In Harlem

08/19/2013

A mixed-use building at 203 West 144th Street, located between Adam Clayton Powell, Jr. and Frederick Douglass Boulevardsin Manhattan’s Harlem neighborhood, was sold in an all-cash transaction valued at $5,000,000.

The six-story walk-up building contains approximately 21,678 square feet and sits on a 50’ x 100’ lot.  It consists of 28 residential and two commercial units.  Of the residential units, 18 are two-bedroom units and ten are three-bedroom units.  A church and a retail tenant occupy commercial units on the ground floor.  The property features a new roof and 24-hour security system, and is in the process of being converted to gas.  The sale price equates to approximately $231 per square foot.

This property is within close proximity to the A, B, C, and D train stop at West 145th Street and St. Nicholas Avenue.

“With this property located just one block south from the 145th Street commercial corridor, we expect the owner to do very well with this acquisition,” said Josh Lipton, who exclusively handled this transaction with Michael Amirkhanian.

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

08/19/2013 - 08:46

Source

Cushman & Wakefield Capital Markets Group New York

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