Ciraulo, Burton and Waggner of Massey Knakal broker $7.25 million sale

A walk-up apartment building at 245 Mulberry St., located in the NoLita neighborhood, was sold in an all cash transaction valued at $7.25 million. The 25-foot wide, five-story plus basement building contains 9,650 s/f. There are 20 apartments, of which six are rent stabilized, two rent controlled and the remaining twelve units are all free market. There are six two-bedroom units, two three-bedroom units, five one-bedroom units and seven four-bedroom units. "This sale represents the pent up demand from foreign buyers looking to pour capital into quality commercial real estate in N.Y.C., viewed as the most stable and highly profitable city to invest in," said Massey Knakal vice chairman and partner John Ciraulo who exclusively handled this transaction with senior VP of sales Robert Burton and director of sales Craig Waggner. Massey Knakal specializes in the sale of investment and user properties in the N.Y. metropolitan area. Since 2001, our agents have closed over 2,500 transactions, with an aggregate value exceeding $12 billion.