Massey Knakal Coordinates Disposition of Several NYC Properties

Massey Knakal Coordinates Disposition of Several NYC Properties

NEW YORK—Massey Knakal has coordinated the sale of several properties throughout New York City totaling more than $60 million.

In the first transaction, four buildings located at 195, 199, 201 and 203 East 4th Street were sold in an all-cash transaction valued at $29 million. Located in Manhattan’s East Village neighborhood, the properties are all five-story, walk-up buildings and offer a combined 27,700 sq. ft. of space. The buildings taken together include 46 apartments and one retail store. Massey Knakal’s John F. Cirauloexclusively represented the seller in this transaction along with Bob Knakal, Michael DeCheser and Craig Waggner.

The 46 apartments are a mix of one-, two-, three-, four- and five-bedroom units, 40 of which are fair market value and six of which are rent-stabilized. The fair market apartments have been gut renovated and include hardwood floors, stainless steel appliances, granite countertops and marble bathrooms. Amenities include a laundry room and upgraded electrical systems.

In the second transaction, three adjacent walk-up apartment buildings located at 118 and 120-22 East 4th Street, located between First and Second Avenues, have been sold in an all-cash transaction valued at $20 million. Situated on two lots, the four properties, also located in Manhattan’s East Village, offers 26,000 sq. ft. and 69 units. Ciraulo exclusively represented the seller in the deal, along with Waggner and James Nelson.

Finally, Massey Knakal coordinated the sale of a development site located at 16-18 East 30th Street in Midtown South in an all-cash transaction valued at $13 million. Currently, the site contains a vacant, five-story commercial building spanning 13,781 sq. ft. of space. Situated in close proximity to Madison Square Park, Herald Square, Penn Station and Grand Central Terminal, the new ownership has plans to develop the space into a high-end hotel. Cirauloexclusively represented the seller, LHG Group LLC and Palladium Management, along with Thomas D. Gammino Jr.

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