The Reel

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A blog for breaking sales and neighborhood real estate news.

Massey Knakal Realty Services has been retained on an exclusive basis to sell three contiguous mixed-use buildings located at 185-189 Grand Street. The buildings are located on the southwest corner of Grand and Mulberry Streets, in the heart of Little Italy. The asking price is $13,000,000.

The three-story buildings total approximately 10,598 gross square feet and have a potential of approximately 22,841 buildable square feet. Upon sale, most of the ground floor will be delivered vacant, presenting a developer with approximately 75 feet of frontage on Mulberry Street or 60 feet of frontage on Grand Street. The second and third floors currently consist of six residential units. The Italian American Museum currently occupies most of 187 and 189 Grand Street and would like to retain a condominium interest in the redeveloped property after the sale.

“Given the corner location of the site, it is expected that the redevelopment will have a strong retail component,” stated Massey Knakal Chairman Bob Knakal who is handling the sale on behalf of the museum with Robert Burton.

Click here for press release

Neighborhoods: Lower East Side/ Agents: Robert Burton