Shalom of Massey Knakal closes 100th deal of the year for firm: A $2.7 million warehouse building sale

Massey Knakal Realty Services has closed their 100th transaction of the year. A warehouse building at 195 Bay 19th St. located between Bath and Cropsey Aves. in the Bensonhurst neighborhood was sold in an all cash transaction valued at $2.7 million. "This property is one of the few warehouses in Bensonhurst," said Massey Knakal first VP of sales Jeffrey Shalom who exclusively handled this deal. "The owner of this building no longer needed to operate his business in this location and decided to capitalize on the increased value of his property." Massey Knakal was the sole broker. "We have clearly seen an increase in investment sales activity from historically low levels in 2009," said Massey Knakal managing director Ken Krasnow. "Investors have more confidence, interest rates are still low and well located, stabilized assets can still command excellent pricing. The outlook for the remainder of the year looks even more promising." The subject property consists of a lot 10,483 s/f with two connected warehouse buildings totaling approximately 29,000 s/f. The front building, comprised of office space and storage, is connected to the rear building, which is storage/warehouse space. There is one freight elevator servicing both buildings. "This property is one of the few warehouses in Bensonhurst," said Massey Knakal first VP of Sales Jeffrey Shalom who exclusively handled this deal. "The owner of this building no longer needed to operate his business in this location and decided to capitalize on the increased value of his property." Massey Knakal was the sole broker.