Lipton and Amirkhanian of Massey Knakal complete $5 million sale; Six-story mixed-use building totaling 21,678 s/f

Massey Knakal completed the sale of a mixed-use building at 203 West 144th St., located between Adam Clayton Powell, Jr. and Frederick Douglass Blvds. in the city's Harlem neighborhood. The building sold in an all-cash transaction valued at $5 million. The six-story walk-up building contains 21,678 s/f and sits on a 50' x 100' lot. The building consists of 28 residential and two commercial units. Of the residential units, 18 are two-bedroom units and ten are three-bedroom units. A church and a retail tenant occupy commercial units on the ground floor. The property features a new roof and 24-hour security system, and is in the process of being converted to gas. The sale price equates to $231 per s/f. This property is within close proximity to the A, B, C, and D train stop at West 145th St. and St. Nicholas Ave. "With this property located just one block south from the 145th St. commercial corridor, we expect the owner to do very well with this acquisition," said Josh Lipton, who exclusively handled this transaction with Michael Amirkhanian.