Ten walk-up apartment buildings referred to as “The NYC Realty Corp. Portfolio” in Manhattan were sold by Massey Knakal Realty Services in an all-cash transaction valued at $29,000,000. Massey Knakal was exclusively retained by the seller just six weeks prior to closing.
The properties include: 120-22 West 25th Street; 124 West 25th Street; 126 West 25th Street; 122 West 20th Street; 156 West 20th Street; 464 West 23rd Street; 191 West 10th Street; 117 Varick Street; 116 East 19th Street; and 141 East 95th Street. They are located in Chelsea, the West Village, SoHo, Gramercy Park, and Carnegie Hill. This was a quintessential Massey Knakal assignment with five different neighborhood specialists working on the sales team.
Combined, the properties contain approximately 87,707 square feet including 89 residential apartments, eight retail stores, three commercial units, and a rooftop antenna. Eight of the properties are five-story buildings while one is six-stories and the remaining building has four stories. Approximately 30% of the residential units are subject to rent regulation and are operating at well below market levels. The unit mix is comprised of 41 one-bedroom apartments, 31 two-bedrooms, eight three-bedrooms, and nine studios.
Neighborhoods: Carnegie Hill, Greenwich Village, Chelsea, SoHo, Gramercy Park/ Agents: John Ciraulo, Robert Burton