Shkury and Sozio of Massey Knakal sell two buildings totaling $10.5m

According to Shimon Shkury, managing partner of Massey Knakal, the northern Manhattan office has closed on two multifamily buildings totaling $10.5 million. The team sold a 30,000 s/f, 40-unit, walk-up apartment building at 647-53 West 174th St. for $6.8 million. Shkury and sales associate Vic Sozio represented the seller, and Randy Modell of ABS Realty Partners represented the buyer. Sozio said the price was achievable because the property's immaculate condition, steady cash flow, and strong upside gave investors the option of converting the building or continuing to operate it as a market rate rental. The team also sold 124-26 West 139th St., a 52-ft. wide, five-story, walk-up apartment building with 30 one-bedroom units, for $3.7 million.