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A blog for breaking sales and neighborhood real estate news.

Featured Listing: 1 Portal Street, Brooklyn, NY

12/30/2008 12:55:04 PM/ Massey Knakal/ Listings

This unique 38,000 SF all brick warehouse in Crown Heights, Brooklyn has two floors.  A sloping street allows for access to both floors directly from the street level. The space is totally open other than columns that are down the middle. Totally sprinklered and ready for the a new owner. The first floor is about 18,000 SF which includes warehouse and office space. The second is 20,000 SF of open warehouse. There are 5 gates. Ceiling height is 16’.

Neighborhoods: Crown Heights

The subject property is two contiguous five-story new construction* residential and community facility buildings between 71st and 72nd Avenues one block East of Parsons Blvd.

The cement buildings are made with the highest grade construction including individually metered units and a tax abatement. These units have been approved for condominiums* and will be delivered vacant.

Click here for listing details.

Neighborhoods: Flushing/ Agents: Stephen Preuss

256-258 West 135th Street consists of two (2) contiguous 18.5’ wide walk-up buildings. While the buildings were once SRO townhouses, both have a certificate of non-harassment and will be delivered vacant thus presenting an excellent conversion opportunity.

The property is surrounded by several recent developments including One Striver’s Row, 50 West 127th & The Lenox. Quick transportation to all downtown and outer borough locations is provided by the B-C train located one block away at St. Nicholas and 135th Street & the 2-3 train located at Lenox and 135th Street.

Neighborhoods: Harlem

A 24.69' wide, 5 story walk-up mixed-use building located on the southwest corner of East 29th Street and Second Avenue.

The property is comprised of Paddy Reilly’s on the ground floor, the first and only all draft Guinness bar in the world, which will be delivered vacant. The second through fifth floors consist of 8 apartments (2 per floor) with 5 of the units being delivered vacant. This property represents a prime opportunity for a user or investor looking for a great corner location.

Neighborhoods: Gramercy Park, Murray Hill/ Agents: John Ciraulo

An 80-year leasehold for a ground floor, mezzanine, and finished basement space. The leasehold may be convertible to co-op ownership.

It benefits from both high ceilings and tremendous exposure on this strong retail block off the Seventh Avenue corridor. This would be ideal for both users and investors alike.

The space was formerly occupied by Man Ray, a famous bar and lounge.
The space has a C of O for commercial use group 6, but a liquor license was recently turned down. Thus, dry use is preferred. There may also be an opportunity to use as a live-work space if the DOB approves.

Neighborhoods: Chelsea/ Agents: Brock Emmetsberger

An 8,336 SF (approx.) single-story retail property located on the southeast corner of Queens Blvd. and 65th Rd. in Rego Park, NY.

The site is currently comprised of 7 retail tenants, 6 of which have demolition/cancellation clauses of 6 months or less, posing a prime development opportunity. All potential uses and square footage figures should be independently checked and verified.

Click here for listing details.

Neighborhoods: Rego Park/ Agents: Guthrie Garvin, Thomas Donovan

171-173 West Broadway is sold individually or as a package with 175 W. Broadway and 177 W. Broadway. Excellent TriBeCa location - Varick St. and W. Broadway merge practically in front of the properties. Excellent retail opportunity. Most tenants on month-to-month leases.

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Neighborhoods: TriBeCa

The subject property is a brick, 3-story 6-unit walk-up apartment building totaling approximately 5,712 SF, located on the east side 66th Street between 70th Avenue and Central Avenue in Glendale, Queens.

The entire building is occupied, making this an excellent opportunity for an investor.

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Neighborhoods: Glendale/ Agents: Thomas Donovan

761 St. Nicholas Avenue is a 20’ wide, five (5) story mixed-use building located on the west side of St. Nicholas Avenue between West 148th and 149th Streets.

Steps away from numerous landmarks and institutions, including Jackie Robinson Park, and Cuny City College, 761 St. Nicholas Avenue enjoys a prime Hamilton Heights location. Offering size, excellent condition, and a prime Hamilton Heights location, 761 St. Nicholas stands out as a premier opportunity for an owner user with income situation.


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Neighborhoods: Hamilton Heights

This property is a 6 story walkup mixed use corner building located in the Lower East Side. The building has 6 stores, 26 apartments, 2 antennas occupying the roof. The additional income comes from an appliance surcharge to some of the apartments. Tenancies include 21 RS apartments, 3 RC tenants, 1 super’s apartment and 1 vacant apartment. More vacancies are also expected. Basement ceiling heights are approximately 8’-9’ while apartment ceiling heights are approximately 10’ high. The property has great potential for increase in the rents as the average of the rent stabilized/controlled apartments are $11.62/SF while free market apartments can rent for approximately $45/SF. There are also two vacant store spaces that can add considerable value to the property. The boiler uses #2 oil and has a 4000 gallon tank. This could be a great value opportunity and a stable income provider to an investor’s portfolio.

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Neighborhoods: Lower East Side/ Agents: Michael DeCheser, Robert Burton

A 16-unit walk-up building located at 41-50 46th Street in Sunnyside, Queens was sold in an all cash transaction valued at $1,645,000.

Neighborhoods: Sunnyside/ Agents: Stephen Preuss

Massey Knakal is pleased to offer a rare opportunity to purchase prime, South Riverdale retail space. 3718 Riverdale Avenue is a block-through property with 28’ of frontage on both Riverdale and Fieldstone Avenues, featuring a full basement, 12’ ceilings, 2 covered parking spaces (rear), and significant air rights.

The site will be delivered vacant and can be utilized as-is, or easily converted to 2 or 3 retail/commercial units. Located in close proximity to several new condo developments, private schools, and Manhattan College this site could be utilized and/or built out to service any number of retail or commercial uses. There is easy access to the Henry Hudson Parkway and MTA bus service along Riverdale Avenue.

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Neighborhoods: Riverdale/ Agents: Karl Brumback

Two rare contiguous 25' wide 5 story Upper West Side walk-up apartment buildings containing a total of 20 units, of which 12 are Free Market, 4 are Rent Stabilized, and 4 are Rent Controlled.

Tremendous opportunity exists to build two ground floor-basement duplexes which would create an additional 1600 net rentable square feet. In addition it may be possible to design penthouse duplexes for each building with set-backs. Outstanding natural light in both front and rear apartments.

Both properties lie within the Riverside-West End Historic District.


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Neighborhoods: Upper West Side

This well-maintained Bedford Stuyvesant building includes six large 3BR railroad apartments. Located near the very desirable Stuyvesant Heights Landmark District within Bed-Stuy. Recent improvements including a new roof, hot water heaters, entryway, and sidewalk. Great condition; turn-key investment opportunity with good returns. Serviced by the C train station at Kingston-Throop Ave.

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Neighborhoods: Bedford Stuyvesant/ Agents: Michael Amirkhanian

414 Myrtle Avenue is a 4 story, mixed-use building, located off the corner of Clinton Avenue, one of the busiest intersections in Fort Greene, Brooklyn.

The building measures 4,300 sq.ft. (approx.) & contains 1 store and 3 apartments. Nearly $100,000 in renovations have been invested into the building. Located between Chase Bank & Emigrant Savings Bank, the vacant retail space remains in a highly desirable location.

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Neighborhoods: Fort Greene/ Agents: Stephen Palmese

The subject East Village property is a 5-story, walk-up apartment building totaling 9,920 square feet. The property has eighteen (18) residential units. Of the eighteen (18) residential units, seven (7) are free market, eleven (11) are rent stabilized.

The rent stabilized apartments are renting for approximately $39/NSF or 44% of market. All of the free market apartments have been gut renovated featuring new hardwood floors, stainless steel appliances and granite countertops.

Click here for listing details.

Neighborhoods: East Village