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

Massey Knakal Sells Townhouse On Upper East Side

03/27/2013

A townhouse at 165 East 71st Street, located between Lexington and Third Avenues in Manhattan’s Upper East Side neighborhood, was sold in an all-cash transaction valued at $5,900,000.

The five-story building contains approximately 4,500 square feet and sits on a 17’ x 102’ lot.  It is currently configured as a multifamily property, with a duplex apartment with garden on the first and second floors, and three floor-through rental apartments above.  It benefits from a new boiler, new roof, and approximately 25’ rear garden on the ground level.  The sale price equates to approximately $1,311 per square foot.

Ira Lifshutz, a local investor who continues to be an active buyer of NYC real estate, purchased the property.

“This five-unit property contained a duplex and three floor-through apartments.  This is a popular block and there was a great deal of interest from both local and international buyers,” said Massey Knakal Vice President of Sales Guthrie Garvin, who exclusively handled this transaction with CEO Paul J. Massey, Jr.

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

03/27/2013 - 12:34

Source

Cushman & Wakefield Capital Markets Group New York

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