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Massey Knakal Realty Services has been retained on an exclusive basis to sell an office building located at 4055 Tenth Avenue, located on the northeast corner of East 216th Street and Tenth Avenue in Northern Manhattan’s Inwood neighborhood. The asking price is $35,000,000.

The properly is a single-story office building that was constructed in 2007. It is approximately 60,000 square feet and is leased on a long-term basis to New York City’s Human Resources Administration. This lease provides strong rents, as well as generous reimbursement provisions to protect potential investors from growth in operating expenses. In addition, the building’s roof is leased long-term to a local parking operator. With a successful parking operator and government tenant, this site offers investors a unique opportunity to acquire office property that generates long lasting cash flows with reliability comparable to government bonds, but at significantly higher yields.

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Neighborhoods: Inwood/ Agents: Robert Shapiro