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

Massey Knakal Sells Mixed-Use Building on Upper East Side

08/29/2012

A mixed-use building at 1007 Lexington Avenue, located between East 72nd and 73rd Streets on Manhattan’s Upper East Side, was sold in an all-cash transaction valued at $4,550,000.

The five-story building is approximately 4,165 square feet and sits on a 17’ x 70’ lot.  There is one retail store on the ground floor and eight residential units above. The sale price equates to approximately $1,092 per square foot.

“With multiple bidders from around the globe, and a sales price of almost $1,100 per square foot, mixed-use buildings on Lexington Avenue continue to be highly sought after by the investment community,” said Massey Knakal First Vice President of Sales Guthrie Garvin who exclusively handled this transaction with Chairman Bob Knakal.

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

08/29/2012 - 10:42

Source

Cushman & Wakefield Capital Markets Group New York

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