A retail property at 64-68 West 125th Street, located between Lenox and Fifth Avenues in the heart of Harlem, was sold in an all cash transaction valued at $7,100,000.
The single story property is approximately 7,569 square feet and sits on a 75’ x 100.92’ lot. There are three retail units that are substantially below market rate. The property benefits from 75 feet of frontage on the 125th Street and significant air rights. The sale price equates to approximately $938 per square foot.
“With the leases set to expire in a few months and the huge amount of air rights, this property is extremely attractive,” said Massey Knakal First Vice President of Sales Jeffrey A. Shalom who exclusively handled this transaction with Director of Sales Lev Kimyagarov. “There was strong interest from several local owners as well as many other retail investors and developers. Within weeks of marketing this property, we received an aggressive offer from a local owner who was able to close within a few days after signing the contract,” added Shalom.
Click here for press release
Neighborhoods: Harlem/ Agents: Jeffrey Shalom