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Once home to Harold Ross, the magazine editor who founded the New Yorker and said “If you can’t be funny, be interesting,” 412-14 West 47th Street offers the opportunity to live in a truly unique townhouse that is steeped in literary and cultural history. Located 150’ West of Ninth Avenue on a beautiful block, the property is a short walk from the Theatre District, Midtown and all the exciting culinary options found in the neighborhood.
The property is a 25’ wide, 4-story, three-family building that will be delivered vacant.

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Neighborhoods: Midtown West

Robert Knakal will be on Fox Business News with Brian Sullivan today at 2:00 p.m. Tune in!

For more information: visit http://www.foxbusiness.com/watch/fox-business/

A 25' wide, 6 story including lower level, mixed-use apartment building. The building is approximately 7,200 SF with a store, a lower level theater, and 9 apartments. The C of O calls for use group 9 for a theatrical studio up to 49 people. The residential rents currently average $1,700/month, which is about 20% below current market levels providing great upside. With the exception of one RS unit, all apartments are FM, making it possible to improve unites and increase rents in the short term. The theater is on a month to month lease, so this could be a prime investor or user opportunity.

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Neighborhoods: East Village

A mixed-use building at 86-09 Northern Boulevard, located between 86th and 87th Streets in Jackson Heights, Queens, was sold in an all cash transaction valued at $925,000.

The three-story brick property is approximately 4,020 square feet and sits on a 20’ x 100’ lot.  The building consists of one retail unit on the ground floor and two three-bedroom apartments above.  The building is in excellent condition. The sale price equates to $230 per square foot.

“This property is in excellent condition with a strong lease for the restaurant,” said Massey Knakal Vice President of Sales Swain Weiner who exclusively handled this transaction.

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Neighborhoods: Jackson Heights

Massey Knakal is now recruiting for Retail Leasing and Investment Sale Agents company wide!

Located steps from Central Park, 12 East 67th Street is a 27’ wide, 5-story Mansion. The property is located on the South side of East 67th Street between Fifth and Madison Avenues in the Upper East Side Historic District. Delivered vacant, the property boasts an unparalleled location, dramatic windows, tremendous light, elevator, and a pool. The mansion contains approximately 10,500 square feet and is built 100’ deep on the first 3 levels.

Constructed in 1879 for Anthony Mowbray in the Queen Anne style, the mansion’s façade was subsequently renovated in 1920 by James Gamble Rodgers to a Remnants of Regency Revival style for then owner Frank C. Munson. Additional renovations in the 1970s and thereafter have created a modern, light and airy layout with contemporary finishes.

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Neighborhoods: Upper East Side

Massey Knakal has been retained on an exclusive basis to arrange for the sale of thirty (30) individual condominium units located in the Central Bronx. The offering contains thirty (30) condominium units located in several buildings throughout the Oval Condominium Complex. The unit mix consists of; one (1) studio, twenty-two (22) one-bedrooms, four (4) two-bedrooms and three (3) three-bedrooms.

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Neighborhoods: Soundview/ Agents: Michael DeCheser

The subject property is an operating hotel with (35) guest rooms, (38) baths and a (250) seat restaurant business. The property is made up of (3) buildings and several common areas. The property is located on the corner of Grand Avenue and Washington Street and offers views of the water, landscape, and downtown of Shelter Island Heights. The hotel averages 80% occupancy during the summer season. The accommodations are competitive in regards to size and amenities of other establishments on the island. Compared to room rates at these other locations, there is room for substantial rate increases.

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Neighborhoods: Westchester County

This new construction facility, built to suit a charter high school, was completed and opened in the fall of 2010. The tenant, in its first year of a 30 year lease, claims hardship due to construction delays which shortened the admissions process resulting in a lower than expected first year student enrollment of around 850 students. However, the school already has an overwhelming amount of preliminary applications and is confident to enroll a sufficient number of students for a profitable next year (1,100 students with a max charter capacity of 1,200 students).

198 Varet Street is located in a vibrant residential area of East Williamsburg within a few blocks from the Morgan Avenue L train station. In addition, under the current lease, the responsibilities of the landlord extend only to the exterior maintenance of the building. The school is outfitted with state of the art classrooms, laboratories and extracurricular amenities including a fitness center, a two story rock climbing wall and an assembly area.

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Neighborhoods: Williamsburg/ Agents: Mark Lively

GreenPearl Events and the Greater NYC Chapter of IREM are hosting the 4th Annual IREM Asset Management Symposium in Manhattan on March 24, featuring Bob Knakal in the acquisitions, dispositions, and valuation of managed real estate assets panel.

Currently, there are over 200 people registered with over 40 speakers discussing issues related to Asset and Property Management today. A complete agenda can be found at www.greenpearlevents.com/irem

Massey Knakal and GreenPearl would like to offer Massey Knakal clients 25% off tickets. Please use discount code PR-IREM01 when registering.

See you there!

This trophy mixed-use building, located at 241-247 Columbus at 71st Street, is in the heart of one of the most vibrant and varied high-end shopping and dining areas in the city.  The property features 102 feet of prime retail frontage on Columbus Avenue and consists of three high-end retail stores and sixteen spacious one-bedroom apartments on floors 2-5, half of which are decontrolled. The 2,492 rentable square feet of retail space is fully leased to established international retailers Clarins, Paige Premium Denim, and an Upper West Side neighborhood institution, Harry’s Burritos.

Neighborhoods: Upper West Side

Ground Approx. 1,550 sf
Mezzanine Approx. 610 sf
Basement Approx 600 sf
20 Feet Ceilings
Corner frontage with over 115’ of wraparound Frontage.

Gorgeous cathedral-style ceilings
Spectacular arched windows
Antique detailed wooden built in cabinetry
Excellent Upper East Side location

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Neighborhoods: Upper East Side/ Agents: Benjamin Fox

A development site at 3961 Carpenter Avenue, located on the west side of Carpenter Avenue at 224th Street in the Willimasbridge neighborhood of the North Bronx, was sold in an all cash transaction valued at $1,085,000.

The site consists of two lots, one lot is vacant land, the other, a former convent. Combined, the site is approximately 38,525 buildable square feet with 112 feet of frontage on Carpenter Avenue and a lot depth of 100 feet. The site is ideally located within close proximity to OLM Hospital, several schools, and the 2/5 subway station at 225th Street. The sale price equates to $28 per buildable square foot.

“The property was sold to a local developer who will likely build a small multifamily building,” said Karl Brumback who exclusively handled this transaction with Chairman and Founding Partner Robert A. Knakal.

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Neighborhoods: Williamsbridge/ Agents: Karl Brumback

Two contiguous buildings at 87-11/19 Atlantic Avenue, located on the northwest corner of 88th Street and Atlantic Avenue in Woodhaven, Queens, was sold in an all cash transaction valued at $850,000.

The single-story retail building, located at 87-11 Atlantic Avenue, is approximately 2,800 square feet and sits on a 50’ x 100’ lot. The building consists of three commercial units and three garages. The second commercial building, 87-19 Atlantic Avenue, is approximately 3,200 square feet and sits on a  50’ x 100’ lot. It is currently occupied by a car customization business. The sale price equates to $141 per square foot.

“This property is located on a very busy stretch of Atlantic Avenue, which solid upside in the rents,” said Brain Sarath who exclusively handled this transaction with Stephen Preuss.

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Neighborhoods: Woodhaven/ Agents: Stephen Preuss

An elevator apartment building at 82-67 Austin Street, located on an entire blockfront of Austin Street between 82nd Drive/Mowbray Drive and Lefferts Boulevard in Kew Gardens, Queens, was sold in an all cash transaction valued at $19,525,000.

The nine-story property is approximately 124,343 square feet and sits on a 200’ x 100’ lot.  There are 144 residential units which include 92 rent stabilized units, 48 fair market units, and four rent controlled units. The building has been meticulously maintained with many recent improvements.  The building is conveniently located directly across the street from the LIRR Kew Gardens Station. The sale price equates to $157 per square foot.

“Due to the limited supply of available large elevator apartment buildings in close proximity to public transportation, coupled with the meticulous condition of the building with zero violations, we were ultimately able to sell Austin Street for a notable 5.2 cap,” said Brian Sarath who exclusively handled this transaction with CEO Paul J. Massey Jr. “The demand for this type of asset continues to be the strongest in this market due to the limited supply and the overwhelming appeal this type of investment has for lending institutions. This sale is a testament to the strength of today’s market for core assets,” added Sarath.

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Neighborhoods: Kew Gardens/ Agents: Paul Massey Jr.

An approx. 10,850 SF, 25 foot elevatored loft building in an excellent location in the heart of TriBeCa. A unique opportunity for a user or an investor. The building has additional air rights for a penthouse (pls. check out with your architect for details).

Approx. 10 foot ceilings. Quiet yet accessible location in north eastern Tribeca a few blocks south of bustling Soho. The property was built in 1857 in the Italianate style, with a cast iron base and arched windows. Of the 3 RS tenants, one is paying over $2,000 a month and a second one is close to $2,000 a month.

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Neighborhoods: TriBeCa

Massey Knakal's Rob Shapiro will be speaking at REBNY's Upper Manhattan round table discussion: "Our Market Today" on Tuesday, March 22, 2011. The event will take place at Uptown Grand at 2110 Adam Clayton Powell Boulevard from 6:00-9:00pm.

The event will cover various topics such as, the state of the market, greening your building, the new appraisal climate, and building inspections. Rob will be covering commercial and retail space with Bradley Cohen of Ripco Real Estate Corp.

The Residential Upper Manhattan Committee invites co-op and condo board members, management companies, townhouse owners and developers to its cocktail reception and round table discussion.

Seating is limited. To register, email your RSVP to djones@rebny.com

For more information - visit REBNY's website

Agents: Robert Shapiro

NoLIta Development: 90% complete, 290 Mulberry Street is a newly developed 12 story building with ground floor retail and 9 lavish full floor apartments above. The building contains a dramatic 2,613SF Penthouse Triplex with 1,650SF of private terraces. This breathtaking building was designed by award winning SHOP Architects.

There is approx. 2,000 SF of GRFL retail. The 9 apartments total approx. 18,000 SF, with approx. 2,600SF of terraces.

This project is perfect for a developer or end user. Estimated cost to complete is $2,000,000. 421 A in place.
290 Mulberry is directly across the street from the world famous Puck Building in the heart of NoLIta, one of Manhattan’s hottest neighborhoods.

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Neighborhoods: NoLIta/ Agents: Michael DeCheser, Robert Burton

A former nursing home at 8629 Bay Parkway, located between 86th Street and Benson Avenue in Brooklyn’s Bensonhurst neighborhood, was sold in an all cash transaction valued at $3,170,000.

The three-story property is approximately 16,032 square feet and sits on a 120’ x 96.8’ lot. The property, which was formerly operated as a 45 bed acute care nursing home, was delivered vacant. In addition to the bedrooms and bathrooms, there are two kitchens, a dining room, administrative offices, social rooms, treatment rooms, and a backyard. There is a potential to develop a 34,800 square foot residential building or a 55,680 square foot community facility.  The sale price equates to approximately $200 per square foot.

“The buyer was an experienced local developer. He may be converting the existing structure and adding floors to it for a condo development,” said Massey Knakal First Vice President of Sales Jeffrey A. Shalom who exclusively handled this transaction.

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Neighborhoods: Bensonhurst/ Agents: Jeffrey Shalom

Massey Knakal is proud to present for sale a 34’ wide, newly renovated, 8,680 SF (approx.) three-story corner mixed-use building, located on the southwest corner of Fresh Pond Road and 70th Avenue in Ridgewood, NY. The property is comprised of three retail units on the ground floor, 1,500 SF of rentable lower level space with elevator access and a total of 6 apartments above. The corner retail unit and the lower level are currently vacant, along with one 1-BR apartment, posing an ideal opportunity for an investor or owner-user. The property is located just 5 blocks from the Fresh Pond Road [M] subway station.

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Neighborhoods: Ridgewood