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

Masssey Knakal Sells Townhouse On Upper West Side

04/26/2013

A modern townhouse at 542 Cathedral Parkway, located between Amsterdam Avenue and Broadway in Manhattan’s Upper West Side, was sold in an all-cash transaction valued at $3,400,000.

The four-story building, including basement, contains approximately 5,065 square feet and sits on a 25’ x 70.92’ lot.  Built in 1988 by Smith and Thompson Architects, it is currently configured as four floor-through apartments and a penthouse studio. The site contains approximately 10,673 buildable square feet, and a significant portion of the excess air-rights could be used to add to the existing building. The sale price equates to approximately $671 per existing square foot.

This property is in close proximity to both the Broadway shopping corridor and Columbia University, and offers excellent access to all forms of transportation.

“542 Cathedral Parkway was sold to an end-user once again demonstrating the strong demand from purchasers looking to create a home in one of Manhattan's most desirable neighborhoods," said Massey Knakal First Vice President of Sales Hall H. Oster, who exclusively handled 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

04/26/2013 - 08:08

Source

Cushman & Wakefield Capital Markets Group New York

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