The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services is pleased to announce the sale of four senior notes for two properties in Harlem and two properties in Brooklyn. At the time of sale, the PAR Value for the collateralized notes was $5,700,000.

The collateral included a building located at 173 East 117th Street between Lexington and Third Avenues. The four-story walk-up building is approximately 3,868 gross square feet and consists of seven residential units. It is located just one block from the 116th Street subway station and the major 125th Street retail corridor.

The second Harlem property is a residential building located at 217 West 115th Street, between Frederick Douglass and Adam Clayton Powell Boulevards. The five-story walk-up building is approximately 6,565 gross square feet and consists of 10 residential apartments.  It is ideally located just four blocks from Central Park, as well as the 110th Street and 116th Street subway stations.

Massey Knakal Chairman Robert Knakal exclusively handled the note sales for 173 East 117th Street and 217 West 115th Street with Director of Sales Lev Kimyagarov.

One of the collateral buildings in Brooklyn is located at 1300-1304 Flatbush Avenue, on the corner of a five-point intersection splitting Flatbush and Bedford Avenues. This three-story commercial building is approximately 3,780 gross square feet and consists of three retail units. The sale of this note was handled exclusively by Mr. Knakal and Director of Sales Edward Gevinski.

The fourth collateral site is located at 283-285 Graham Avenue on the southwest corner of Powers Street and Graham Avenue. The site consists of one two-story building and one three-story building which combined total approximately 6,825 square feet. Together, there are three retail and three residential units. There is also a 1,000 square foot garage that is used as an artists studio. The sale of this note was handled exclusively by Mr. Knakal and Vice President of Sales Mark Lively.

Click here for press release

Neighborhoods: Harlem, Bushwick, Flatbush/ Agents: Mark Lively