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

Massey Knakal Sells Six Building Portfolio Downtown

01/18/2013

Massey Knakal has sold six mixed-use properties located in downtown Manhattan: 122 Nassau Street, 20 John Street, 53 Nassau St, 8-10 Liberty Avenue and 16-18 Maiden Lane, and 20 Beaver Street. The buildings were sold in a transaction valued at $19,250,000.

122 Nassau Street is a four-story mixed-use building, located between Beekman and Ann Streets. The building is approximately 5,480 square feet and consists of a retail store on the ground floor and three free market residential units above. 20 John Street is approximately 5,952 square feet and is located between Broadway and Nassau Streets. It consists of two retail stores and three residential units. 53 Nassau Street is located between Maiden Lane and Liberty Street. The 3,044 square feet building has a total of four units: one store and three residential units. 8-10 Liberty Place is a five-story mixed-use building that is approximately 4,900 square feet. It consists of one retail store and four residential units. Adjacent to 8-10 Liberty Place is 16-18 Maiden Lane. The five-story mixed used building is approximately 4,550 square feet with one retail store and four residential units. Lastly, 20 Beaver Street, a four-story mixed-use building located between Broadway and Broad Street, is approximately 6,760 square feet. It consists of one retail store and six residential units

All the buildings, with the exception of 20 Beaver Street, are situated in the epicenter of the Financial District. The buildings provide convenient living arrangements for those working in the area, as well as easy access to the rest of the city, given their close proximity to virtually all subway lines within a five block radius. 20 Beaver Street is located in Manhattan’s Bowling Green and just off the 4 and 5 Subway line. These properties were part of the 28 building, $250 million Century Portfolio which Mr. Knakal has been disposing of over the past several months.

“This was a prime portfolio of mixed-use buildings which were driven primarily by their valuable retail space. The sellers originally purchased the properties based upon the quality of the stores and the buyers appreciated that perspective,” said Massey Knakal Chairman Bob Knakal, who exclusively handled these transactions with Director of Sales Nick Petkoff.

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

01/18/2013 - 16:48

Source

Cushman & Wakefield Capital Markets Group New York

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