Maier and Gallagher of Massey Knakal complete two Brooklyn sales

Massey Knakal Realty Services has recently completed the following transactions: A four-story apartment building with ground floor retail at 1207 49th St. in the Boro Park section of the borough was sold by Massey Knakal in an all-cash transaction valued at $6.25 million. The 100-foot-wide property, also known as 4813 12th Ave., contains 36 residential units and seven commercial units over 36,000 s/f. The rent stabilized building has an average rent of $760 per month. The transaction occurred at a capitalization rate of 5.55% and a gross rent multiple of 11.67. The property sold for $173.61 per s/f to Brooklyn Pinnacle Realty Group LLC. Massey Knakal broker Jason Maier acted as the exclusive agent on the sale. Massey Knakal and Moshe Gottfried of Blue Sky Realty LLC were the brokers in the sale. Massey Knakal also sold a three-story, mixed-use property at 1340 60th St. in the Boro Park neighborhood in an all-cash transaction valued at $1.275 million. The 40' x 100' building is located on the south side of 60th St. between 13th Ave. and New Utrecht Ave. It contains one commercial unit on the ground floor that was last used by a cabinet maker and two residential apartments on the upper two floors. The building was delivered vacant. The property contains 5,880 s/f and sold for $216.84 per s/f. Massey Knakal broker John Gallagher was the exclusive agent on the sale. Massey Knakal was the sole broker.