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

MASSEY KNAKAL SELLS MULTIFAMILY BUILDINGS IN BROOKLYN

05/01/2012

Massey Knakal Realty Services is pleased to announce the sale of three multifamily buildings located in Prospect-Lefferts Garden and East Flatbush. The properties are located at 350 Empire Boulevard and 441 Brooklyn Avenue in Prospect-Lefferts Garden and 305 East 34th St in East Flatbush. They were sold in a transaction valued at $18.1 million.

These three elevatored multifamily buildings are located in some of the most accessible and desirable areas of central Brooklyn. The three pre-war buildings have a combined total of approximately 157,255 square feet and consisted of 154 apartments and five commercial spaces. With the recent demand for housing caused by outpricing in other Brooklyn neighborhoods, and the buildingsā€™ close proximity to Manhattan, these assets represented one of the strongest portfolio offerings in Brooklyn recently.

ā€œThis transaction demonstrates the continued strength of the multifamily market in all boroughs of New York City,ā€ stated Massey Knakal Chairman, Bob Knakal, who exclusively represented the seller in this sale along with Director of Sales, Michael 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 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

05/01/2012 - 14:03

Source

Cushman & Wakefield Capital Markets Group New York

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