Ciraulo of Massey Knakal Realty Services completes $13.5 million sale

A five-story, elevatored apartment building with a penthouse at 62-64 East 34th St. in the Murray Hill neighborhood was sold by Massey Knakal Realty Services for $13.5 million. The 43 ft. wide property is located on the south side of East 34th St. between Park and Madison Aves. It's fully occupied with two stores on the ground floor, a commercial office on the second floor and rent stabilized apartments and eight free market apartments on the upper floors. Originally just 62 East 34th St., 64 was added in 1879. The buildings were later combined for commercial space on the lower floors but still maintain much of the original detail on the upper floors. The building contains 17,180 s/f. The property sold for $785.80 per s/f. "With the current development market remaining attractive, and substantial activity going on near this building, the property presents a likely opportunity to become a prime development site," said Massey Knakal vice chairman John Ciraulo, who exclusively represented the seller. Massey Knakal Realty Services and Laurence Roberts of Arch Brokerage LTD were the brokers.