crefeed.com | Massey Knakal sells $54M Manhattan portfolio

9/30/2008

Massey Knakal sells $54M Manhattan portfolio

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Massey Knakal Realty Services has represented Richard Wasserman, Esq., in the $54 million sale of a The New 118th Upper Manhattan Portfolio in Northern Manhattan.

Chairman Robert Knakal, Rob Shapiro and Shimon Shkury represented Wasserman, the trustee for the Bankruptcy Court, in the deal.

The 21-building portfolio contains 418,230 square feet with 500 residential apartments, five super units and 12 commercial units. Twenty of the properties are five-story buildings while the remaining buildings has six stories.

"The sale of The New 118th Street Portfolio is a testament to the resilience of Manhattan's multi-family market, even in the wake of the current economic climate," Knakal said.

The portfolio is comprised of the following: 463-467 W. 159th St.; 2180-2182 Amsterdam; 503-507 W. 176th St.; 531 W. 179th St.; 704 W. 180th St.; 559-561 W. 183rd St.; 510-524 W. 184th St.; 507 W. 184th St.; 515 W. 184th St.; 516-520 W. 188th St.; 283-285 Audubon Ave.; 70-72 Pinehurst; 500 W. 190th St.; and 234-236 E. 118th St.

Size: 418,230 square feet

Filed Under: Multi-Family

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