The Reel

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A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services is pleased to announce that Partner James P. Nelson and his sales team have completed ten transactions with an aggregate sales value of close to $40,000,000 in the third quarter of 2011. These sales include three mixed-use buildings, three townhouses, three commercial condos, and one warehouse.  

At Massey Knakal since 1998 and a partner since 2004, James has been involved in the sale of more than 200 properties and loans with an aggregate value of over $1.3 billion. James has been the firm’s top producer for four of the past five years, surpassed only by the founding partners. James works with a dedicated team of seven associates who help support his business. The most senior include David Fowler, Caroline Hannigan, Mitchell Levine and Matt Nickerson.

“At a time when volume is just returning to the market, James Nelson’s team is prolific. Most importantly, they serve as a role model for all of us by delivering high market pricing and excellence in client service,” said Massey Knakal CEO Paul J. Massey Jr.

Notable Manhattan transactions included:
·    A five-story townhouse at 14 East 11th Street in the West Village sold for $7,650,000 or $1,407 per square foot.

·    A five-story elevator loft building at 449 Washington Street in TriBeCa sold for $6,900,000 or $840 per foot.

·    A five-story mixed-use building at 82 Christopher Street in Greenwich Village sold for $6,100,000 or $857 per foot.

·    A completely renovated townhouse at 211 West 22nd Street in Chelsea sold for $3,850,000 or $1,132 per foot.

·    A three-family townhouse at 117 Bedford Street (aka 128 Christopher Street) in Greenwich Village sold for $3,658,000 or $1,043 per foot and a 3.46% cap rate.

·    A restaurant condominium leased to Mary Queen of Scots at 115 Allen Street on the Lower East Side sold for $2,325,000 or a 6.8% in-place return and about $800 per foot.

Click here for press release

Agents: Paul Massey Jr.