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

Massey Knakal Sells Multifamily Building In Greenpoint

06/02/2014

A multifamily building at 213 Green Street, located between Manhattan Avenue and McGuinness Boulevard in Brooklyn’s Greenpoint neighborhood, was sold in an all-cash transaction valued at $1,750,000.

The four-story brick building contains approximately 5,500 square feet on a 25’ x 100’ lot and consists of eight units.  It has tremendous potential as an income producing investment and it holds additional air rights.  The sale price equates to approximately $318 per square foot.

The property is conveniently located just four blocks from the India Street entrance to the Greenpoint Avenue G train station and six blocks from the East Ferry River dock.

“There was considerable interest in this asset and we received multiple offers, ultimately settling on number over the asking price,” said Massey Knakal’s Mark L. Lively, who exclusively handled this transaction with Brendan T. Maddigan.  “When rehabilitated and repositioned, this will be a solid asset anchored in one of Brooklyn’s most desirable neighborhoods,” Maddigan added.

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

06/02/2014 - 10:14

Source

Cushman & Wakefield Capital Markets Group New York

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