Cope of Massey Knakal completes $750,000 sale of 3,717 s/f building

A new construction condo project at 1570 Prospect Pl. in the Prospect Heights section was sold by Massey Knakal Realty Services in an all-cash transaction valued at $750,000. The 28 ft. wide, four-story property is located on Prospect Pl. between Buffalo and Ralph Aves. The project, which is near completion, contains six two-bedroom units and one one-bedroom unit, all of which have two bathrooms. There are three parking spaces in the rear of the building and some units are staged and ready to be shown. The property contains 3,717 s/f. It was sold to an area investor. "The owner was unable to sell any of the units for almost a year and hired us to sell the entire building," said Massey Knakal broker Waleed Cope, who represented the seller. "The buyer intended to use the building as a rental until the market turned. At the last minute three of the units went into contract and the buyer was able to buy the building at a reduced price." Massey Knakal was the sole broker.