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

Massey Knakal Sells School Building In Harlem

01/04/2013

A school building at 159 West 127th Streetlocated between Adam Clayton Powell and Malcolm X Boulevards in Central Harlem, was sold in an all-cash transaction valued at $3,500,000.       

This two-story building contains approximately 15,000 square feet and sits on a 50’ x 100’ lot. It is currently configured with 17 classrooms, two teachers’ offices, and a playground on the roof.  It has been extensively developed with state of the art mechanicals, new elevator, and high-end finishes. Construction was completed in 2010 by an experienced developer.  The sale price equates to approximately $233 per square foot.

“The competition for this asset was extremely strong due to its “move in” condition and the rarity of sites throughout the city that work for school use,” said Massey Knakal First Vice President of Sales Robert M. Shapiro who exclusively who exclusively handled this transaction.

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

01/03/2013 - 17:54

Source

Cushman & Wakefield Capital Markets Group New York

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