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

Massey Knakal Sells Mixed-Use Building In Prospect Heights

10/24/2012

A mixed-use building at 640 Classon Avenue, located between Dean and Bergen Streetsin Brooklyn’s Prospect Heights neighborhood, was sold in an all-cash transaction valued at $950,000.

The three-story building is approximately 2,940 square feet and sits on a 24.5’ x 100’ lot.  It contains two apartments over a vacant commercial unit.  The ground floor contains a rear outdoor yard and fully built usable basement. The sale price equates to approximately $323 per square foot.

It is conveniently located around the corner from the active retail strip on Atlantic Avenue and within immediate walking distance to Prospect Park and the 2, 3, 4, and 5 trains with access throughout Brooklyn, Manhattan, Queens, and the Bronx.

“Classon Avenue is becoming as desirable as Vanderbilt Avenue and owners, users, and investors are aggressively pursuing opportunities along the corridor,” said Massey Knakal Director of Sales Stephen Palmese, who exclusively handled this transaction, along with Senior Associate Winfield Clifford.

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

10/24/2012 - 10:34

Source

Cushman & Wakefield Capital Markets Group New York

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