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

Massey Knakal Sells Multifamily Building In Bushwick

06/17/2014

A multifamily walk up building at 147 George Street located between Flushing and Knickerbocker Avenues in Brooklyn’s Bushwick neighborhood, was sold in an all-cash transaction valued at $1,450,000.

The three-story walkup building contains approximately 4,000 square feet and sits on a 25’ x 75’ lot.  Mostly-renovated, it consists of six residential units, including two and three-bedroom apartments.  The sale price equates to approximately $388 per square foot.

The site is conveniently located within four blocks of the L train, offering access to nearby Williamsburg and Manhattan within 30 minutes.

“There was immense interest in this offering with multiple bids nearly up to the asking price,” said Massey Knakal’s Brendan Maddigan, who exclusively handled this transaction with Michael Amirkhanian and Mark Lively. “This is the third transaction we have handled in 2014 of a Bushwick six-family property trading at over $1 million,” added Amirkhanian.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,700 transactions having a market value in excess of $19 billion.

www.masseyknakal.com

06/17/2014 - 08:06

Source

Cushman & Wakefield Capital Markets Group New York

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