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

Massey Knakal Sells Two Mixed-Use Buildings In Harlem

05/20/2013

Two contiguous mixed-use buildings at 57-59 East 125th Street, located between Madison and Park Avenues in Manhattan’s Harlem neighborhood, were sold in an all-cash transaction valued at $3,600,000.

The buildings combine for approximately 6,786 square feet and sit on a 37.33’ x 99.92’ lot.  The current zoning allows for approximately 22,455 buildable square feet as-of-right. One building was delivered vacant. The sale price equates to approximately $160 per buildable square foot.

Located on the busiest retail corridor in the heart of Central Harlem, this site is easily accessible to Midtown and Downtown Manhattan via the Lexington Avenue 4, 5, and 6 trains.  It is also one block from the Metro-North Railroad, and a number of bus routes service the area.

“We received a great deal of interest and strong offers during the 60 days of marketing,” said Massey Knakal Director of Sales Lev Kimyagarov, who exclusively represented the seller in 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 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

05/20/2013 - 08:33

Source

Cushman & Wakefield Capital Markets Group New York

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