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

Massey Knakal Sells Two Mixed-Use Building On The Upper East Side

11/13/2012

Two mixed-use buildings at 880 - 882 Lexington Avenue, located between East 65th and 66th Streets on Manhattan’s Upper East Side, were sold in an all-cash transaction valued at $9,200,000.

The four-story buildings consist of approximately 8,120 square feet.  They are separate, each containing one store and six residential units, but sit on one 40’ x 70’ lot.  All 12 residential units are free market.  The sale price equates to approximately $1,133 per square foot.

“This retail corridor on Lexington Avenue has seen a great deal of activity recently.  Investors and retail end-users continue to drive demand in mixed-use properties in the area,” said Massey Knakal First 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 4,200 transactions having a market value in excess of $15 billion.

www.masseyknakal.com

11/13/2012 - 12:31

Source

Cushman & Wakefield Capital Markets Group New York

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