Massey Knakal Sells Mixed-Use Building Located On Lower East Side
A mixed-use building at 45 Orchard Street, located between Hester and Grand Streets on Manhattan’s Lower East Side, was sold in all-cash transaction valued at $16,100,000.
The seven-story plus mezzanine elevatored loft building contains approximately 16,000 square feet and sits on a 37’ x 66’ lot. It consists of thirteen free market units and one retail unit.The sale price equates to approximately $1,006 per square foot.
“With all fair market tenants, great retail and recent renovations, 45 Orchard was an ideal opportunity for an investor to purchase an outstanding asset,” said Massey Knakal’s James Nelson, who exclusively represented the seller in this transaction with Michael DeCheser and Robert Burton. “This is a location that is currently buzzing due in large part to the energy of the Essex Crossing project,” said Michael DeCheser.
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.