The Reel

Follow us:

A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services is pleased to announce the sale sell of a new construction, luxury residential building at 109 Gold Street. The property is located on the corner of Gold and York Streets on the border of Brooklyn's DUMBO and Vinegar Hill neighborhoods. The building sold in an all cash transaction valued at $14,500,000.

 The seven-story property measures approximately 36,944 square feet and contains 33 units, averaging approximately 725 square feet and ranging from studios to two-bedroom units, some with home offices. The building features a 15-year 421-A Tax Abatement and received final Certificate of Occupancy. There are 17 onsite parking spaces, bike storage, and tenant storage.  The building is pre-wired for FiOS and Time Warner Cable and has a common roof terrace with Manhattan, Brooklyn and Bridge Views.
The property is conveniently located two blocks from the F train, which runs through Brooklyn & Manhattan, and two blocks from the Brooklyn and Manhattan Bridges and Brooklyn Queens Expressway entrances.

"There is a supply and demand imbalance in today's market.  New construction, luxury properties are the most sought-after asset class, yet the rarest. This property received interest from local, out-of-state and international buyers, all eager to deploy capital." said Massey Knakal Director of Sales Stephen Palmese who exclusively handled this transaction.

Click here for press release

Neighborhoods: DUMBO/ Agents: Stephen Palmese