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

Massey Knakal Sells Mixed-Use Building On Upper East Side

01/15/2013

A mixed-use building at 133 East 65th Street, located between Park and Lexington Avenues on Manhattan’s Upper East Side, was sold in an all-cash transaction valued at $7,200,000.

The five-story building contains approximately 6,552 square feet and sits on a 20’ x 100’ lot.  It consists of one commercial unit and four residential units.  Ground floor and second floor currently are vacant retail space previously used as a restaurant.  The third and fifth floors each have one floor-through apartment and the fourth floor is divided into two studios. The sale price equates to approximately $1,099 per square foot.

“Demand for this property type on the Upper East Side has been unprecedented.  We are thrilled that we were able to deliver a price that exceeded the owner’s expectations” said Massey Knakal First Vice President of Sales Guthrie Garvin, who exclusively handled this transaction. This marks Guthrie’s 15th building sale in 2012. 

Ira Lifshutz, a local investor who closed on multiple properties in the fourth quarter and continues to be an active buyer of NYC real estate, purchased the property.

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

01/14/2013 - 17:38

Source

Cushman & Wakefield Capital Markets Group New York

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