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

Massey Knakal Sells Office Condominium On Upper West Side

02/26/2013

A ground floor professional office condominium in The Rushmore Condominium at 80 Riverside Boulevard, located between West 63rd and West 64th Streets steps away from Riverside Park on Manhattan’s Upper West Side, was sold in an all-cash transaction valued at $875,000.

The ground floor unit located in The Rushmore, a 43-story luxury condominium building constructed in 2006, contains approximately 1,765 square feet and offers dramatic 20 foot high ceilings with ample light and river views.  It is currently in a 421-A tax abatement, which commenced on July 1, 2010 and will expire on June 30, 2020.  The permitted uses for the unit are community facility and professional office. The sale price equates to approximately $500 per square foot.

“This is the eighth commercial condo that we've sold along Riverside Boulevard over the past two years.  The buyers of these units fully appreciate the demand for service providers who can satisfy the needs of one of Manhattan's fastest growing neighborhoods. They will all do very well as the area continues to rapidly expand," said Massey Knakal First Vice President of Sales Hall H. Oster who exclusively handled this transaction with Senior Vice President of Sales Paul B. Smadbeck.

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

02/26/2013 - 15:20

Source

Cushman & Wakefield Capital Markets Group New York

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