According to Massey Knakal's Special Asset Strategy Group, it has completed the sale of a corner retail building at 1570 New York Ave., located at the intersection of New York Ave. (aka Rte. 110) and East 11th St. in Suffolk County. The property was sold in an all cash transaction valued at $425,000.
The single story retail property is approximately 3,895 s/f and sits on a 132 ft. x 130 ft. lot. The lot contains side and rear parking and 132 ft. of frontage on New York Ave. The sale price equates to $109 per s/f.
"We were able to achieve a short sale due to the cooperation from a lender and the property owners," said Massey Knakal director of sales Lev Kimyagarov who exclusively handled this transaction with the assistance of Massey Knakal's Special Asset Strategy Group.
Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 2001, our agents have closed over 2,500 transactions, with an aggregate value exceeding $12 billion. Tags: