9/11/2008

Massey Knakal finalizes $19M sale of Manhattan apartments

by

11 East 88th St.

Massey Knakal Realty Services, a commercial real estate firm specializing in the Manhattan area, has negotiated the $19 million sale of an Upper East Side apartment building to a local investor.

James Nelson and Cory Rosenthal brokered the sale of the the eight-story building, which is located near the Guggenheim Museum and Central Park at 11 E. 88th St. Built in 1954, it sold for $691.81 per square foot and contains 27,464 square feet. It is comprised of 25 units, three of which were vacant at closing.

"Being fours door down from the Guggenheim and Central Park, this building's location was a huge draw for the sale," Nelson said. "After multiple offers we received from a bid deadline, a local investor who was willing to put down 40 percent equity prevailed."

Address: 11 E. 88th St., New York, N.Y.

Size: 27,464 square feet

Built: 1954

---

Filed Under: Multi-Family

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

* - Required fields Subject: * Message: * Contact Name: * Contact URL: Contact Email: * Write the characters in the image above:

Related Headlines

• Colliers International welcomes three brokers in California - 5/29/2009
• Texas hotel sells for $4.275M - 5/29/2009
• Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
• California industrial building sells for nearly $3 million - 5/29/2009
• NAI facilitates sale of Alaska mixed-use building - 5/28/2009
• Long Beach retail center commands $6.05M - 5/28/2009
• Florida land fetches $2.725M - 5/28/2009
• Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
• Colliers Arnold stays busy in Tampa - 5/27/2009
• Colliers sells two buildings in California - 5/27/2009