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

Massey Knakal Sells Two Mixed-Use Buildings In Brooklyn

05/06/2013

Massey Knakal has sold two mixed-use buildings in Brooklyn for an aggregate value of $1,065,000.  The buildings are located at 630 Liberty Avenue, on the corner of Liberty Avenue and Warwick Street in East New York,and 1729 Pitkin Avenue, between Thatford Avenue and Osborn Street in Brownsville.

The three-story fully-occupied building at 630 Liberty Avenue contains approximately 4,825 square feet and sits on a 25’ x 100’ lot.  It features approximately 1,305 square feet of commercial space on the ground floor, along with one two-bedroom unit on the second floor and one three-bedroom unit on the third floor.  Attached to the building are two single car garages and a two-story home.  This property is located only a few blocks from both the C train Shepherd Avenue and Van Siclen Avenue subway stations.  It was sold in an all-cash transaction valued at $400,000, with the sale price equating to approximately $83 per square foot.

The four-story building at 1729 Pitkin Avenue contains approximately 8,400 square feet and sits on a 25’ x 100’ lot.   It consists of one ground floor store and six residential units which include three three-bedroom units and three two-bedroom units.  It is situated in the prime retail area of Pitkin Avenue and is less than two blocks away from Foot Locker, Chase, H&R Block, and T-Mobile.  It was sold in an all-cash transaction valued at $665,000, with the sale price equating to approximately $79 per square foot.

Massey Knakal Director of Sales Edward Gevinski exclusively represented the seller in each 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

05/06/2013 - 08:15

Source

Cushman & Wakefield Capital Markets Group New York

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