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Brokerage
Posted: July 21, 2008
Lala of Massey Knakal reps. seller in $1.255m sale of 20,463 s/f bldg.
A four-story, walk-up apartment building at 256-258 Woodworth Ave. was sold by Massey Knakal Realty Services in an all-cash transaction valued at $1.255 million.
The 101' x 100' brick property contains 18 units of 20,463 s/f. Onsite parking lots allows parking for up to 10 cars. The transaction occurred at a capitalization of 10.31%. The property was sold to a private investor from Westchester.
"The property features circuit breakers throughout, replacement windows, a resurfaced roof and the parking lot is underutilized," said Massey Knakal partner/managing director Marco Lala, who exclusively represented the seller. "There is great upside." Massey Knakal was the sole broker.
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