Building Sales Journal - July 2012
Massey Knakal's Building Sales Journal, produced for over 20 years, provides information about some of our notable transactions, company related news and industry trends.
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Featured Sales By Massey KnakalMassey Knakal Realty Services
109 Gold Street, Brooklyn, NY
131-37 Emerson Place, Brooklyn, NY
175 MacDougal Street. New York, NY
976 Dean Street (1000 Dean Street), Brooklyn, NY
37 West 10th Street, New York, NY
14 East 11th Street, New York, NY
183 Columbia Heights Act13, Brooklyn, NY
111 East 77th Street, New York, NY
61 Park Place, Brooklyn, NY
189-191 South 9th Street, Brooklyn, NY
4706 4th Avenue, Brooklyn, NY
363-371 Prospect Place, Brooklyn, NY
90-01 Jamaica Avenue, Jamaica, NY
Featured Leases by Massey KnakalMassey Knakal Realty Services
113 East 60th Street, New York, NY
961 Columbus Avenue, New York, NY
175 Bleecker Street, New York, NY
2120 Nostrand Avenue, Brooklyn, NY
Featured Financings by Massey KnakalMassey Knakal Realty Services
$5.5 Million Acquisition Loan in SOHO
Massey Knakal Realty Services
204 Huntington Street, Brooklyn, NY

Neighborhood: Carroll Gardens

Type: Elevator Building

Sale Price: $24,500,000

Transfer Date: 04/24/12

A residential building at 204 Huntington Street, located on the southwest corner of Huntington and Smith Streets in Brooklyn's Carroll Gardens neighborhood, was sold in an all cash transaction valued at $24,500,000.

The three-story plus penthouse, residential building is approximately 62,404 square feet and sits on a 94.5' x 185.5' lot with 270 feet of total frontage. The elevator building has 60 units consisting of 8 one-bedroom units, 37 two-bedroom units and 15 three-bedroom units. The units range in size from 676 to 1,475 square feet. All of the units have high ceilings ranging from 15 to 26 feet in height. There is a meticulously landscaped courtyard located outside the lobby. The top floor of the building contains five penthouse apartments with private terraces.

The building is located less than two blocks from the F and G subway station and offers convenient access to both bus and highway transportation.

"As the rental market continues to strengthen, investors seek the security of quality, income producing properties. This asset represents everything investors look for when placing capital in today's market," said Director of Sales Stephen Palmese who exclusively handled this transaction with Massey Knakal Chairman Bob Knakal.

Message From The Chairman - First Half 2012
New York City's investment sales market, in the first half of 2012, (1H12), had a much more positive and uplifting feeling to it than the statistics reflect. The reason for this incongruity is mainly because the volume of sales has increased marginally but the number of buyers in the market has been overwhelming which has precipitated a significant increase in value. This was particularly true in the second quarter; however, this influence will not be reflected until 2H12 numbers are in as those transactions close. It is, however, interesting to look at what has transpired with investment sales volume in the first two months in the year. In 1H12, the total dollar volume of sales in the city was $14.2 billion, reflecting a 3 percent increase over the $27.4 billion total in 2011, if annualized. We expect that this $14.2 billion of activity will more than double before the end of the year as we expect more robust activity in the second half of the year as additional supply comes on the Read Article
Message from the CEO: The Job Hunt Part I - 'The Informational Interview'
In my last letter, I wrote about what defines a good career candidate. We are frequently asked by clients and friends for advice the early stages of a career search. I've had some recent experience in coaching a promising young candidate. Read Article
As Village Rents Rise, More Choose to be Landlords
In the last ten years, retail rents in Greenwich Village, the East Village, the Meatpacking District, and NoHo have risen substantially. The most extreme example of this has been parts of Bleecker Street where rents have risen as much as 500%. As a result, when looking at Bleecker Street's stores and restaurants west of 7th Avenue, essentially all of the businesses are operated by someone other than the property owner. Read Article
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Press Releases
Bob Knakal Receives Founder's Medal at Brooklyn Hospital Founders Ball
Massey Knakal Ranked NYC 's #1 Building Sales Firm For The 10th Consecutive Year
Massey Knakal's Top Agents Receive CoStar PowerBroker Award For Queens/Long Island
Massey Knakal Capital Services Closes A $14 Million Loan In Williamsburg
Massey Knakal Capital Services Closes A $6 Million Loan On The Upper West Side
Massey Knakal Charitable Foundation Update
Massey Knakal Realty Services
© 2012 Massey Knakal Realty Services This information has been compiled for informational purposes only and Massey Knakal Realty Services shall not be liable for any reliance thereon. Click Here to Send Us Feedback Click Here to Join Our Investor List