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

Massey Knakal Sells Mixed-Use Building on Upper East Side

12/23/2014

A mixed-use building at 88 East End Avenue, located between East 83rd and East 84th Streets on Manhattan’s Upper East Side, was sold in an all-cash transaction valued at $6,100,000.

The five-story building, located just steps from Carl Shurz Park, contains approximately 7,875 square feet and sits on a 25.67’ x 65’ lot.  It consists of a ground floor commercial unit and 12 free market residential units above. The building was gut renovated approximately 11 years ago and it is sprinklered throughout.  The air rights have been sold and there is a light and air easement in place.  The sale price equates to approximately $775 per square foot.

“This sale enabled the purchaser to gain a foothold in one of Manhattan's best neighborhoods while satisfying their exchange,” said Massey Knakal’s Thomas D. Gammino, Jr. who exclusively handled this transaction.

www.masseyknakal.com

12/23/2014 - 11:36

Source

Cushman & Wakefield Capital Markets Group New York

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