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

Massey Knakal Sells Office Building In Kingsbridge

02/14/2013

A building at 280 West 231st Street, located on the corner of Corlear Avenue and West 231st Street in the Kingsbridge neighborhood of the Bronx, was sold in an all-cash transaction valued at $1,477,000.

The one-story building contains approximately 7,866 gross square feet and sits on a 65’ x 89.67’ lot. It is configured into two levels and offers column free space and elevator access.  It benefits from ceiling between 12 and 13 feet high and almost 60 feet of highly visible frontage.  The sale price equates to approximately $188 per square foot.

The building is located directly across the street from several new recently completed residential construction projects.  It is only three blocks west of the Broadway commercial corridor and steps from the MTA #1 subway line.

Kingsbridge is a hot neighborhood, especially west of Broadway. Despite the area’s attractiveness, the property’s split level configuration meant that we had to find the perfect user for this property. In the end, a medical user prevailed as the top bidder,” said Massey Knakal First Vice President of Sales Robert Shapiro, who exclusively handled this transaction with Vice President of Sales Karl Brumback.

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

02/13/2013 - 18:36

Source

Cushman & Wakefield Capital Markets Group New York

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