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

Massey Knakal Sells Mixed-Use Building In South Street Seaport

10/09/2013

A mixed-use building at 108 South Street, located between Beekman Street and Peck Slipin Manhattan’s South Street Seaport Historic District, was sold in an all-cash transaction valued at $2,775,000.

The four-story building contains approximately 4,856 square feet and sits on a 16.75’ x 81’ lot.  It consists of one commercial and three residential units.  The sale price equates to approximately $571 per square foot.

New York City plans to extend the East River Waterfront Esplanade to this area in 2013-2014 and to finish the $1.4 billion Fulton Street Terminal in 2014, which is also in close proximity to the property.

“The buyer intends to renovate the space to occupy three two-bedroom apartments in the units above and use the commercial space for a restaurant,” said Massey Knakal’s Nick Petkoff, who exclusively represented the seller, Silvershore Properties, in this transaction.

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

10/09/2013 - 15:00

Source

Cushman & Wakefield Capital Markets Group New York

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