Massey Knakal arranges two all-cash sale transactions totaling $4.9 million

A two-story industrial building at 32-47 Queens Blvd. in the Long Island City section of Queens was sold by Massey Knakal Realty Services in an all-cash transaction valued at $3.8 million. The 100' x 100' property is located at the northwest corner of Queens Blvd. and 33rd St. The building boasts high ceilings, two separate entrances and 14 offices in addition to the manufacturing space. It contains 14,375 s/f. The property is equipped with two drive in roll up drawers. It sold to a Queens developer with plans to level the warehouse to construct a new 60-room hotel. "Despite the volatile marketplace, this property sold above the asking price and received dozens of offers within its first few weeks on the market," said Massey Knakal broker Stephen Preuss, who exclusively represented the seller. Massey Knakal was the sole broker in the transaction. Massey Knakal has also sold a four-story, mixed-use building at 366 Myrtle Ave. in the Fort Green section of Brooklyn in an all-cash transaction valued at $1.1 million. The 20' x 40' property is located on the south side of Myrtle Ave. between Adelphi and Clermont Sts. It contains approximately 3,400 s/f and an additional 2,000 s/f of air rights. The building has two vacant commercial spaces and six apartments - 4 two-bedrooms and 2 one-bedrooms, each with a deck. It sold to a city user. Massey Knakal was the sole broker in the transaction.