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The subject property is a 400' wide, 79,814 SF (approx.) two-story retail/office building, situated on a 411’ wide lot located on the south side of Austin Street between 70th Avenue & 69th Road in Forest Hills, NY. The property is currently comprised of five tenants including Barnes & Noble (including Starbucks), TGI Friday's, The Men's Wearhouse, Eddie Bauer and Olympic Airlines. There are a total of 5 retail units on the ground floor (1 current vacancy of approx. 7,000 SF). This is a rare opportunity for an investor to own one of the most desirable retail properties in all of Queens.

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Neighborhoods: Forest Hills

A six-story office building at 256 Fifth Avenue, located between West 28th and West 29th Streets in Manhattan’s Flatiron neighborhood, was sold in an all cash transaction valued at $6,500,000.

The building, constructed in 1893, is approximately 12,960 square feet and sits on a 24’8” by 100’ lot. There is a beautifully intricate terra cotta façade, which the American Institute of Architects describes in their guide to New York City as an example of architectural “virtuosity.” There are approximately 11,700 square feet of additional development rights, however, as the building is within the Madison Square North Historic District only a portion may ultimately be approved for development by the Landmarks Preservation Commission. The sale price equates to $502 per square foot.

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Neighborhoods: Flatiron/ Agents: John Ciraulo

The Mineola Package consists of 3 rent-stabilized apartment buildings featuring 80 total units plus parking. 135 Third Avenue is a 4-story, 42-unit elevator apartment building with a separate parking lot for tenants. 250 Harrison is 4-story, 32-unit walk-up apartment building with indoor parking and an outdoor parking lot across the street. 162 Grant Avenue is a 3-story, 6-unit walk-up apartment building and adjacent lot featuring 8 outdoor garages. The properties are being sold together as a package.

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Neighborhoods: Nassau County

Massey Knakal’s Special Asset Strategy Group is pleased to announce the sale of a partially demolished brownstone at 100 Clark Street in Brooklyn Heights. The brownstone, taken back through the foreclosure process and sold by the lender with its previous tenancy and liens in place, was sold in an all cash transaction valued at $1,250,000.

In May 2008, the City of New York partially demolished the 1852 five-story walk-up building, located on the south west corner of Clark Street and Monroe Place, on the ground of unsafe building conditions. The lot is approximately 25’x 78’ and contains approximately 7,976 buildable square feet. The property is a prime opportunity for a redevelopment into a single family or multifamily. The sale price equates to $186 per buildable square foot.

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Neighborhoods: Brooklyn Heights/ Agents: Stephen Palmese

The subject property is a 50' wide, 15,098 SF (approx.) four story retail/residential building, located just steps from one of the top retail corners in Queens, NY (Continental Avenue & Austin Street). The property is currently comprised of a 4,700 Sq. Ft. retail unit on the ground floor currently leased to Ann Taylor (lease Expires 1/31/2016 with (1) 5 year option). There are (5) 2-bedroom apartments and (2) 1-bedroom apartments above the retail which are currently occupied. The entire building was completely gut renovated in 2005. All apartments enjoy luxury amenities including cherry floors, granite kitchen floors and counters, stainless steel appliances, instant hot Kohler fixtures, washer and drying units (with the exception of (1) 1-bedroom unit), and Jacuzzi bathtubs.

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Neighborhoods: Forest Hills

A five-story townhouse at 318 West 102nd Street, located on the south side of West 102nd street between West End Avenue and Riverside Drive on Manhattan’s Upper West Side, was sold in an all cash transaction valued at $3,700,000.

The property is approximate 6,340 square feet and sits on a 20’ x 100’ lot. It is currently configured as a four-family home consisting of a spacious owner’s duplex with a south facing garden and three floor-through apartments. A significant amount of the property’s original detail has been preserved including the original staircase, wood floors, pocket doors, and elaborate fireplaces with mantels. There are high ceilings throughout and a large basement which is currently used for storage. The sale price equates to $584 per square foot.

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Neighborhoods: Upper West Side

The property is a four (4) story mixed-use building in Mt. Vernon. The building has recently undergone a gut renovation to all apartments and retail space making all residential units Free Market. Ground floor is retail/office space and the upper (3) three floors have (3) apartments each. The residential breakdown is (6) 1-bedroom units and (3) 2-bedroom units. All units have individual electric and gas meters as well as separate hot water heaters. Additional income is derived from a long term roof antenna. This building is an excellent investment opportunity.

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Neighborhoods: Westchester County

Massey Knakal Realty Services, NYC’s #1 building sales firm, is pleased to announce the release of their exclusive third quarter (3Q10) Property Sales Reports. These unique, industry-leading, reports provides a comprehensive study of the investment sales market by product type in the entire New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens).

"While we have had several consecutive quarters of increased sales volume, 3Q10 volume was surprisingly disappointing as dollar volume and number of sales dropped from 2Q10,” said Massey Knakal Chairman and Founding Partner Robert A. Knakal. “Volume has now joined value as each bounce around, trying to find their footing,” added Knakal.

The total number of properties sold citywide through the third quarter was 1,248 up an impressive 17% from the 1038 properties sold in the first three quarters of 2009. The 3Q10 number of 388 properties sold was down 21% from the 493 total properties sold in 2Q10. Through the third quarter (1Q-3Q10) activity also remained 68% below the 3,980 sales occurring in the first three quarters of 2007, which was the peak of market activity.

Within the different market segments Massey Knakal tracks, Northern Manhattan was the best performing thus far in 2010. The 108 properties sold (occurring north of 96th Street on the east side and north of 110th Street on the west side) represent a 77% increase from the comparable period in 2009, and up 9% from 2Q10. The borough with the least activity was the Bronx in which there were 135 properties sold in 1Q-3Q10, down 16% from 1Q-3Q09 and down 21% from 2Q10.

For dollar volume, the best performing area was Manhattan which saw a 130% increase in activity through 3Q10 and a 43% increase compared to 3Q09. Queens was the weakest performer with $87 million of sales through 3Q10, down 2% from mid-year 2009 and down 38% compared to 3Q09.

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Agents: Paul Massey Jr.

Massey Knakal Realty Services, NYC’s #1 building sales firm, is pleased to announce that Partner, James P. Nelson, was honored by the Varadi Ovarian Initiative For Cancer Education (VOICE) on September 22, 2010 with their “Achievement in Business” award.

Since starting his career with the firm in 1998, James has been the company's top salesperson three times. Named Partner in early 2004 at 28, he was and still is the youngest Partner in the company's history. James’s involvement in the real estate community is diverse. He teaches at New York University and the Real Estate Board of New York, helping other brokers stay current with their certifications. In addition to his work in the office, Mr. Nelson is also involved in the not-for-profit world including sitting on the board for the Catalog for Giving.

“Massey Knakal is proud that our Partners James Nelson (and previously Partner Tom Donovan) has been working to promote the work of VOICE and our friend Mr. Rudy. James and Tom have proven themselves to be great community leaders particularly in this case by supporting women and their families,” said Massey Knakal CEO Paul J. Massey Jr.

The event was to benefit the Varadi Ovarian Initiative and the Mt. Sinai School of Medicine Early Detection Program for Ovarian Cancer under the direction of Dr. David A. Fishman. Also honored at the event was the late Dr. Marilyn M. Varadi, who received the “Achievement in Education” award. Charles “Chick” Rudy was honored with the “Achievement in Philanthropy” award and Dr. Michael L. Brodman received the “Achievement in Medicine” award.

“We are most appreciative of the support of Massey Knakal since our first function at which we honored Tom Donovan. The 2010 event enabled us to establish the Jane B. Stein Fellowship for Ovarian Cancer Research in Memory of Dr. Marilyn Varadi (for whom the organization was named and who passed away September of this year),” said Charles “Chick” Rudy.

The mission of Voice is to promote the early detection of ovarian cancer through education, research and advocacy. They raise awareness about ovarian caner and proved support and outreach programs for women and their families. Their education program also enhances the diagnostic understanding of ovarian cancer by the medical community. For more information on Voice visit: http://www.voiceforlife.org

Agents: Paul Massey Jr.

The subject property is a 5-story commercial building with significant development potential and will be delivered vacant. It is located on the north side of West 38th Street between Eighth and Ninth Avenue. The zoning allows for a wide array of possibilities, including commercial office, hotel, retail, or residential.

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Neighborhoods: Midtown West

Massey Knakal Realty Services, NYC’s #1 building sales firm, is pleased to announce the release of their exclusive third quarter (3Q10) Property Sales Reports. These unique, industry-leading, reports provides a comprehensive study of the investment sales market by product type in the entire New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens).

"While we have had several consecutive quarters of increased sales volume, 3Q10 volume was surprisingly disappointing as dollar volume and number of sales dropped from 2Q10,” said Massey Knakal Chairman and Founding Partner Robert A. Knakal. “Volume has now joined value as each bounce around, trying to find their footing,” added Knakal.

The total number of properties sold citywide through the third quarter was 1,248 up an impressive 17% from the 1038 properties sold in the first three quarters of 2009. The 3Q10 number of 388 properties sold was down 21% from the 493 total properties sold in 2Q10. Through the third quarter (1Q-3Q10) activity also remained 68% below the 3,980 sales occurring in the first three quarters of 2007, which was the peak of market activity.

Within the different market segments Massey Knakal tracks, Northern Manhattan was the best performing thus far in 2010. The 108 properties sold (occurring north of 96th Street on the east side and north of 110th Street on the west side) represent a 77% increase from the comparable period in 2009, and up 9% from 2Q10. The borough with the least activity was the Bronx in which there were 135 properties sold in 1Q-3Q10, down 16% from 1Q-3Q09 and down 21% from 2Q10.

For dollar volume, the best performing area was Manhattan which saw a 130% increase in activity through 3Q10 and a 43% increase compared to 3Q09. Queens was the weakest performer with $87 million of sales through 3Q10, down 2% from mid-year 2009 and down 38% compared to 3Q09.

Click here to see the highlights from each report

A warehouse/factory building for sale. 252 Newport Street is four stories each consisting if 13,952 square feet with full basement that is 50% above grade, and an industrial elevator. Property also benefits from three cell phone towers collecting an annual $58,464. Building can be delivered vacant or with option for long term, market lease at with current owner who has been in business for over 100 years. 252 Newport Street is located in an M1-1 zone in the Brownsville neighborhood of Brooklyn. Just three blocks north of Linden Boulevard and two blocks south of the subway 3 train Rockaway Avenue station.

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Neighborhoods: Brownsville

A retail condominium at 225 East 57th Street, located between Second and Third Avenues in Manhattan’s Midtown East neighborhood, was sold in an all cash transaction valued at $960,000.  

The property is located on one of Manhattan’s busiest retail corridors with close proximity to an abundance of residential properties and major transportation hubs. The 1,610 square feet retail condominium is located on the ground floor of the Harridge House, a 20-story mixed-use condominium building with over 100 residential units sitting above the retail condominium. The property was delivered vacant. The sale price equates to $596 per square foot.

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Neighborhoods: Midtown East/ Agents: John Ciraulo

A five-story mixed-use building at 18 East 23rd Street, located on the south side of East 23rd Street between Broadway and Park Avenue South, was sold in an all cash transaction valued at $5,700,000.

The 25 foot wide walk-up building is approximately 9,400 square feet. Built in 1900 and renovated in 1988, the building consists of sixteen free market residential apartments. A retail store occupies the ground floor and basement which has generous ceiling heights. The property’s excellent location across from Madison Square Park and less than one block east of the Flatiron Building make it an attractive place to live, work, and/or invest. The sale price equates to $606 per square foot.

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Neighborhoods: Flatiron/ Agents: John Ciraulo

This is the largest property in the immediate vicinity of one of the most upscale neighborhoods in Brooklyn. Neighboring homes valued at $2 million & up. Explosive private home, condo & commercial development nearby. High Ceilings. Driveway and garages for parking behind building. Subway and bus transportation on block. note: Tax lot is being split. Total tax shown but Kings Highway building is not included in this offering.

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Neighborhoods: Gravesend/ Agents: Jeffrey Shalom

A mixed-use building at 179 Smith Street, located between Warren and Wyckoff Streets, in Brooklyn’s Boerum Hill neighborhood, was sold in an all cash transaction valued at $1,425,000.

The three-story brick building is comprised on one commercial unit with two apartments above. The retail space is occupied by a bar. The two apartments, which will be delivered vacant, have been extensively renovated. The sale price equates to $528 per square foot.

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Neighborhoods: Boerum Hill/ Agents: Stephen Palmese

An industrial warehouse building at 184-198 Nostrand Avenue and 433 Willoughby Avenue, located on the northwest corner of Willoughby and Nostrand Avenue in Brooklyn’s Bedford Stuyvesant neighborhood, was sold in an all cash transaction valued at $2,850,000.

This site includes a corner, single-story, brick industrial building and a neighboring, small vacant lot totaling approximately 20,000 square feet.  The ceiling of the warehouse ranges from 14 feet on the sides to 18 feet in the middle and features seven large skylights. The property has a full sprinkler system, two unconnected Modine gas blowers and adequate power. There is a mechanical roll down gate and screen as well as an office and two bathrooms. It is conveniently located two blocks from the Myrtle-Willoughby G train station and one block from Home Depot. The sale price equates to $71 per buildable square foot.

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Neighborhoods: Bedford Stuyvesant/ Agents: Mark Lively

A four-story commercial loft building with step down retail. The interior was recently renovated, updates include a new roof, HVAC and electrical systems. The interior also benefits from an open-air steel stairwell and a tremendous amount of light and from top floor skylight. The property could be delivered vacant making it ideal for investors and end users alike.

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Neighborhoods: Chelsea

Two five-story elevator apartment buildings at 530 and 534 East 88th Street, located on the south side of East 88th Street between York and East End Avenues on Manhattan’s Upper East Side, were sold in an all cash transaction valued at $15,000,000.

Combined, the properties feature 150 feet of frontage, seventy-three residential units and approximately 57,000 gross square feet. The unit breakdown consists of nineteen studios, twenty-eight one-bedroom units, and twenty-six two-bedroom units. Of the seventy-two units, forty-six are free market, eighteen are rent stabilized and nine are rent controlled. The sale price equates to $264 per square foot. More impressively, the cap rate on this transaction was just under 4%.

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Neighborhoods: Upper East Side

197-199 Mott Street is a development site located in the heart of NoLITa between Spring and Kenmare Streets. The site features approximately 50' of frontage on Mott Street and is zoned C6-1 within Section C of the Special Little Italy District. This allows for either a hotel, residential or mixed-use development of up to approximately 32,000 square feet. An existing vacant building currently occupies the site. The combination of an ideal downtown location and flexible zoning district creates a tremendous opportunity for a mixed-use development.

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Neighborhoods: NoLIta/ Agents: Robert Burton