Massey Knakal Realty Services brokers four sales totaling $13.442m

Massey Knakal Realty Services (MK) has completed four sales totaling $13.442 million. The transactions include: * The $7.725 million all-cash sale of a one-story office building operating as a full service bank at 29-21 41st Ave. in the Long Island City section. The 32' x 70' building's main floor consists of office space, a conference room and one bathroom. The basement has a walk-in security vault, a conference room, office space, several storage rooms and two bathrooms. The property has 73,008 buildable s/f. Currently, the property contains 8,664 s/f. MK broker Alfonso Holloman represented the seller. MK and Marcia Taranto of Sotheby's International Realty were the brokers. * The $2.7 million sale of a four-story, mixed-use building at 232 East 50th St. , Manhattan. The 4,666 s/f property is located on the south side of East 50th St. The building contains one commercial tenant, a nursing company, and five residential tenants, of which four are rent stabilized and the fifth is an owner's unit. The property allows for 8,367 buildable s/f and 3,701 s/f of air rights. The transaction occurred at a capitalization rate of 5.37% and a gross rent multiple of 12.86%. MK broker Clint Olsen represented the seller. MK was the sole broker. * The $1.85 million all-cash sale of an eight-family walk-up apartment building at 219 St. John's Place in the Park Slope section of Brooklyn. The property contains 4,544 s/f, with an additional 501 s/f of air rights. The property was sold to a Manhattan developer. MK broker Ken Freeman, represented the seller. MK and Elizabeth Rueckerl-Betteil of Prudential Douglas Elliman were the brokers. * The $1.167 million all-cash sale of a 75' x 100' development site at 980 East 174th St. (1702 Bryant Ave) in the Bronx. The property is zoned R7-1 with a C1-4 overlay, allowing for 25,800 buildable s/f, 15,000 of which could be commercial. Under the Quality Housing program, total residential buildable s/f is 30,000 s/f. The property has approved plans for five three-family homes. The property was sold to a Queens developer. MK brokers David Simone and David Canning represented the seller. MK was the sole broker.