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

Massey Knakal Sells Walk-Up West Village Apartment Building

07/30/2012

A walk-up apartment building at 40 Morton Street, located between Seventh Avenue South and Hudson Streetin the West Village, was sold in an all-cash transaction valued at $5,435,000.

The building has five stories with fifteen residential units and one lower level storage space with a half bathroom. The residential units are configured as five one-bedroom apartments and ten two-bedroom apartments. Fourteen of the apartments are rent stabilized and one is rent controlled. Located in the highly desirable Greenwich Village neighborhood, the property lies on a tree-lined street and is within direct walking distance to multiple downtown destinations and attractions. The building is approximately 8,884 square feet which equates to approximately $611 per square foot.

“With a short supply of downtown multifamily properties to compete against, we were able to produce almost 20 offers and a fully executed contract for 40 Morton Street in just one month,” said Massey Knakal Director of Sales Brock Emmetsberger who exclusively handled the transaction with Massey Knakal Partner James P. Nelson.

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

07/30/2012 - 09:46

Source

Cushman & Wakefield Capital Markets Group New York

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