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Brokerage
Posted: October 3, 2008
Nelson and Rosenthal of Massey Knakal rep. seller in $19 million sale
An elevatored apartment building 11 East 88th St. on the Upper East Side was sold by Massey Knakal Realty Services in an all-cash transaction valued at $19 million.
The 50-ft.-wide, eight-story property is located on the north side of East 88th St. between Fifth and Madison Aves. The property is comprised of 25 units, 12 of which are rent stabilized, another 12 that are free market and one office. The layout is a mix of junior three-bedrooms, two-bedrooms, one-bedrooms and studios. Three of the units were vacant at closing. The property contains 27,464 s/f. It was sold to an area investor.
Massey Knakal partner James Nelson, represented the seller with broker Cory Rosenthal.
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