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

Massey Knakal Sells Mixed-Use Building in North Bushwick

07/30/2012

A mixed-use building at 211 Knickerbocker Avenue, located between Jefferson and Troutman Streets in Brooklyn’s North Bushwick neighborhood, was sold in an all-cash transaction valued at $900,000.

The three-story building is approximately 4,500 square feet and sits on a 25’ x 100’ lot.  There is one retail unit on the ground floor which is approximately 1,500 square feet. There are four residential units on the second and third floors.

Located on the prime retail corridor in Bushwick, this building is within close proximity to restaurants, art galleries, grocery stores, and night life. Additionally, the L train is just two blocks away.

 The sale price equates to $200 per square foot.

“The building is located on North Bushwick’s primary retail corridor and attracted heavy demand from buyers,” said Massey Knakal Director of Sales Michael Amirkhanian who exclusively handled this transaction. “The owner intends on making improvements to the building while optimizing the net operating income,” added 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 4,200 transactions having a market value in excess of $15 billion.


www.masseyknakal.com

07/30/2012 - 10:16

Source

Cushman & Wakefield Capital Markets Group New York

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