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

Massey Knakal's Robert Burton Sells Prime SoHo Building

02/05/2013

The National Sculpture Society, a not for profit, recently sold its building at 53 Mercer Street, located between Broome and Grand Streets in Manhattan’s SoHo Cast Iron Historic District, in an all-cash transaction valued at more than $7,400,000.

National Sculpture Society’s President, Dan Ostermiller, and Executive Director Gwen Pier, and the entire Board were thrilled with the outcome. “We selected Robert to represent us because we knew that he would be personally involved throughout the sales process. His presentation was the most professional – and accurate – and he executed the sale in a manner and for a price that far exceeded our expectations.”

Sculptor Richard Miller had lived and worked in the building since the early days of SoHo and generously deeded the building to NSS at his death. The site currently contains a three-story building of approximately 6,855 square feet on a 25’ x 100’ lot.  It holds additional air rights.

“This group was such a pleasure to work with,” said Massey Knakal Senior Vice President of Sales Robert Burton, who exclusively handled this transaction. “When I met their attorney, Brook Boyd of Meister Seelig, I knew this would be one of my best experiences in real estate,” Burton added.  “There was a tremendous response from the market and we had over 40 offers in very short order. The eventual buyer, Marco DiLaurenti and his family, were the perfect buyers. They had recently sold their building on Spring Street and were looking for another project.”

“When the sellers realized that the buyer had a strong interest in art and sculpture, it was the icing on the cake,” said Burton.

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

02/05/2013 - 12:02

Source

Cushman & Wakefield Capital Markets Group New York

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