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One of a row of 6 Flemish Revival row houses constructed together in 1889, 308 West 88th Street is 21' wide and five (5) stories with a 3 story rear extension. The building contains a garden duplex and 8 apartments all of which are currently vacant.

Although the property lies within the Riverside - West End Historic District there are sufficient air-rights to add a partial 6th story. The building will require a full renovation and is ideal for conversion to a single family home or live plus income. Delivered Vacant.

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Neighborhoods: Upper West Side

Paul J. Massey Jr., CEO and Founding Partner of Massey Knakal Realty Services, proudly congratulates Partner Shimon Shkury for being awarded “Realtor of the Year” by the Bronx Manhattan North Association of Realtors. Mr. Shkury will be honored at their 86th annual banquet on Thursday, April 15th, 2010 at the Marina del Rey in the Bronx.

A native of Israel, Mr. Shkury entered the real estate industry in 2002, and after only 18 months in the industry, he was named a partner at Massey Knakal. He was integral in leading the company’s expansion into Upper Manhattan and The Bronx, and has been involved in the sale of nearly $1.5 billion of commercial properties. In 2009, Mr. Shkury and his team sold over $100 million which included the two largest transactions in Northern Manhattan – The East Harlem HUD Portfolio, a 230-unit portfolio that sold for $26.9 million; and 1428 Fifth Avenue, a package that consisted of a 120-unit residential building and 180,000 square foot development site that sold for $21.95 million.

Mr. Shkury devotes much of his spare time and resources to professional and nonprofit organizations. These include various leading positions with the Bronx Manhattan North Association of Realtors, the National Realty Club, the UJA Federation, The Rabin Medical Center, the Chabad Israel Center and the State of Israel Bonds Committee. He also works as an Adjunct Professor of Real Estate Investments for Yeshiva University; holds position on the Advisory Board for Legal Outreach, a Harlem-based after school program; and has hosted several fundraisers for the Manhattan School of Music.

“Bob and I, along with everyone at Massey Knakal, are incredibly proud of Shimon and all that he has accomplished in his career both professionally and philanthropically.  He is an extremely valuable member of our team and a leadership example for both our company and the industry,” said Mr. Massey.

For more information on this event, email info@BMAR.org

This two story industrial loft building was formerly the popular night club Studio B in Greenpoint, Brooklyn. The first floor of the club is approximately 9,000 square feet. There is a also an additional space approximately 4,500 square feet of partially enclosed outdoor space. The club features three bars, a dance floor and four bathrooms. Through a separate entrance there is also an approximately 4,500 square foot nicely renovated loft space with a full kitchen and bathroom. The property is located less than six blocks away from the Nassau Avenue G Train Station at Norman Avenue and twelve blocks from the Bedford Avenue L Train Station which runs directly into Manhattan. It is also a couple blocks away from McCarren Park, Transmitter Park and the East River State Park.

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Neighborhoods: Greenpoint/ Agents: Mark Lively

This sale represents an approx. 9,515 SF assemblage
of two lots. The lots are currently improved by fully
occupied four family building which can be delivered
vacant if necessary. There is significant development
potential in the large parcel, especially considering the
scarcity of new residential units in the vicinity. The
Coney Island Rezoning Plan was approved in July
2009 and will usher in sweeping improvements to the
area. The nearby major thoroughfares are Surf Avenue,
Cropsey Avenue, and the Belt Parkway. Transportation
includes the B68, B64, B82, and X29 buses as well as
D, F, N, Q subway lines at Stillwell Avenue.

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Neighborhoods: Canarsie/ Agents: Stephen Preuss

A loft warehouse at 156 Flushing Avenue located between Vanderbilt and Clinton Avenues across from the Brooklyn Navy Yard in Fort Greene, Brooklyn was sold for $1,600,000.

The warehouse, which measures approximately 15,000 square feet, sits on a 65’ x 133’ lot with ceiling heights ranging from 15 to 40 feet.  The property is ideally located across from the Navy Yard and Steiner Studios and provides easy access to the BQE, Brooklyn Battery Tunnel, Verrazano, Brooklyn, Manhattan, and Williamsburg Bridges.

Neighborhoods: Fort Greene/ Agents: Stephen Palmese

A development site at 74-21 Queens Boulevard located between 74th and 76th Streets in Elmhurst, Queens was sold in an all cash transaction valued at $3,570,000.

The site, which has 237 feet of frontage on Queens Boulevard, houses a single-story automobile repair shop situated on approximately 23,743 square feet. The current zoning is C8-1, allowing for a commercial or hotel development. The entire property was delivered vacant at closing.

Neighborhoods: Elmhurst

A multifamily apartment building at 276 Throop Street located on the northwest corner of Throop and Willoughby Avenues in the Brooklyn’s Bedford Stuyvesant was sold in an all cash transaction valued at $1,658,500, or over $100k per unit.

The four-story property is approximately 9,936 square feet and sits on a 27’ x 100’ lot. There are 16-units. The property had a total gut renovation in 2005 and has about 12 years remaining on a J-51 tax abatement. Units have separate water heaters and tenants pay hot water and cooking gas. Improvements include new lock systems, video security, and new lighting.  

Neighborhoods: Bedford Stuyvesant

A beautiful, 20’ wide five (5) story townhouse located in the heart of the Upper West Side’s Bloomingdale District. The property 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, elaborate fireplaces with mantels, wainscoting, and fine moldings. There are high ceilings through out and a large basement which is currently used for storage. The property is ideal for conversion to a beautiful single family home or live plus income. Delivered vacant.

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Neighborhoods: Upper West Side

A loft warehouse at 156 Flushing Avenue located between Vanderbilt and Clinton Avenues across from the Brooklyn Navy Yard in Fort Greene, Brooklyn was sold for $1,600,000.

The warehouse, which measures approximately 15,000 square feet, sits on a 65’ x 133’ lot with ceiling heights ranging from 15 to 40 feet.  The property is ideally located across from the Navy Yard and Steiner Studios and provides easy access to the BQE, Brooklyn Battery Tunnel, Verrazano, Brooklyn, Manhattan, and Williamsburg Bridges.

Neighborhoods: Fort Greene/ Agents: Stephen Palmese

Massey Knakal is pleased to offer for sale the retail and office component of one of the most successful condominium conversion projects in Brooklyn. The Mill Building is five blocks from the Bedford Avenue L train station, which is the first stop into Brooklyn on the line and offers easy access to Manhattan. This Northside Williamsburg location is surrounded by the amenities of this vibrant community including a renowned nightlife and a unique shopping experience that draw people in from all over the five boroughs. It was well received by the marketplace when converted in 2007 and is a unique offering in the area. This package offers a tremendous and stable return on an investment in a popular historic building. Additionally, the potential exists to combine individual units into larger, sub-divide and sell commercial units, or convert to residential use. Please inquire for a comprehensive marketing package.

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Neighborhoods: Williamsburg/ Agents: Mark Lively

A vacant retail condominium space at 211 East 51st Street located between Second and Third Avenues in Midtown Manhattan was sold in an all cash transaction valued at $1,850,000

This offering consists of a retail condo space located within the newly designed TWO ELEVEN E51 conversion which includes 73 nouveau décor style luxury units situated next to the charming Green Acre Park. The retail space is approximately 2,719 square feet and has been recently renovated.

Neighborhoods: Midtown West

A six-story mixed-use building at 42 Clinton Street located between Stanton and Rivington Streets in Manhattan’s Lower East Side neighborhood was sold in an all cash transaction valued at $3,125,000

The building is approximately 11,350 square feet and sits on a 25’ x 100’ lot. The building is 60% vacant. There is a short terms tenant in the retail space on the ground floor and the remaining floors contain a total of 22 rent stabilized units. Ten units are occupied and twelve units are vacant. Of the 22 units, five of them are combined units. The property traded for approximately $275 per square foot.

Neighborhoods: Lower East Side/ Agents: Michael DeCheser

3042 3rd Avenue is located on the northeast corner of E 156th Street and 3rd Avenue. The building consists of 1 commercial space and 12 residential apartments. The lot and building size are 25’ x 96’ and 25’ x 90’ respectively. The subject property is located in the Melrose section of the Bronx, next to the “Hub Retail and Office Center”, a new $50 million mixed-use development with a 260-car garage. The property is also adjacent to the recently sold out Orion, a 61 unit Condominium building.

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Neighborhoods: Melrose

The subject property consists of a one story retail building located on the southwest corner of Cross Bay Boulevard and 158th Avenue in Howard Beach, Queens. The building is currently double net leased to T-Mobile. The tenant has a ten year lease (beginning 9/1/09) with increases to the base rent at Years 4 and 7. There is also a five year renewal option. The tenant is responsible for all building expenses except for the roof, structure, sidewalks and structural damage to the parking area. The property is located in the heart of Howard Beach's retail district. Other major commercial tenants in the immediate area including Starbuck's, McDonald's, Gap/Gap Kids, Petco, CVS and Gold's Gym. This property offers an excellent retail investment opportunity in this extremely desirable neighborhood.

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Neighborhoods: Howard Beach/ Agents: Jeffrey Shalom

A five story, 25' wide walk-up apartment building with 20 units - 11 one-bedroom units and 9 studios. A building-wide renovation program transformed this old law tenement building into a modern apartment building with highly attractive, desirable studio and one-bedroom units.

15 units are free market, 2 are rent stabilized with preferential rents, 2 are rent stabilized without preferential rents and 1 is rent controlled. The building represents a tremendous low-management investment opportunity in an up-in-coming area.

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Neighborhoods: Midtown West

Located on the northeast corner of Greenwich and Bleecker Streets, this 3 story plus basement walk-up mixed use building contains one retail space and four residential units. As per the C of O, the basement is legal retail space (Use group 6) and presents an investor or end-user the opportunity to have multi-leveled retail. The residential units are all fair market and are fully occupied, while the seller could lease back the retail space for three years at $20,000/month or deliver it vacant.

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Neighborhoods: Greenwich Village

Paul J. Massey, CEO and head of Massey Knakal’s Special Asset Strategy Group is pleased to announce the sale of two properties in Brooklyn for a total aggregate sales value of $705,000.

A brick mixed-use property at 333 New Lots Avenue, located between Pennsylvania and Georgia Avenue in East New York, Brooklyn was sold for $275,000. The building is 2,270 square feet and sits on a 20’ x 87.08’ interior lot. There is a commercial space on the ground floor and the second floor consists of a three-bedroom apartment in the front and an office in the rear. First Vice President of Sales Ed Gevinski handled this transaction.

A vacant mixed-use property at 1729 Nostrand Avenue, located between Cortelyou and Clarendon Roads in East Flatbush, Brooklyn was sold in an all cash transaction valued at $430,000. The 3,000 square foot brick property sits on a 20’ x 100’ lot. The three-story building has two three-bedroom apartments, a commercial unit on the ground floor, and a basement. First Vice President of Sales Rene Santiago handled this transaction.

Neighborhoods: East Flatbush, East New York/ Agents: Paul Massey Jr.

The inclusionary offering consists of 12,000 square feet of inclusionary air rights generated by certain inclusionary condominium units in a building within Community Board 8 Zoning District. The air rights can be used anywhere in CB 8 and two blocks within CB 11 up to East 98th Street. The air rights will allow properties with an FAR of 10.0 to be increased to a maximum of 12.0, adding significant value. These are available immediately.

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Neighborhoods: Upper East Side

A mixed-use building at 36-38 Hillside Avenue located in Williston Park in Nassau County was sold in an all cash transaction valued at $1,200,000.

The two-story building is approximately 5,688 square feet and sits on a 40’ x 100’ lot. There is a gift shop and a restaurant on the ground floor four apartments on the second floor. The well maintained property is centrally located to retail businesses and the Williston Park line of the Long Island Rail Road. The sale price represented $210 per square foot and a 7% cap rate.

Neighborhoods: Nassau County

Massey Knakal is reporting the closing of three properties throughout Brooklyn with a total of 113 residential units and one retail unit totaling 11,060 square feet for an aggregate sales value of $2,100,000.

A six-family building at 5605 6th Avenue, located between 56th and 57th Streets in Sunset Park, Brooklyn was sold in an all cash transaction valued at $975,000. The building is approximately 5,000 square feet and sits on a 25’ x 100’ lot. All six apartments are two-bedroom units that have recently been renovated. First Vice President of Sales Adam Hess exclusively handled this transaction.

A three-story six-family brick building at 119 Freeman Street, located between Manhattan Avenue and Franklin Street in Greenpoint, Brooklyn, was sold in an all cash transaction valued at $725,000. The 4,860 square foot building is occupied by five rent stabilized tenants and one vacant free market unit. First Vice President of Sales Mark Lively was the sole broker in this transaction.

A mixed-use building at 2920 Coney Island Avenue, located between Montauk Court and Shore Parkway in Sheepshead Bay, Brooklyn, was sold in an all cash transaction valued at $400,000. The two-story building is approximately 1,200 square feet and sits on a 40’ x 54’ lot. There is one commercial unit on the ground floor and one residential above. There is also a driveway, a gated entrance, two large storage containers, and rear parking. First Vice President of Sales Brian R. Hanson exclusively handled this transaction.

Massey Knakal Realty Services, NYC’s #1 building sales firm, was the sole broker in these transactions.

Neighborhoods: Greenpoint, Sunset Park, Sheepshead Bay/ Agents: Mark Lively