Palmese and Knakal of Massey Knakal handle $24.5 million sale

A residential building at 204 Huntington St., located on the southwest corner of Huntington and Smith Sts. in Carroll Gardens neighborhood, was sold in an all-cash transaction valued at $24.5 million. The three-story plus penthouse, residential building is 62,404 s/f and sits on a 94.5' x 185.5' lot with 270 ft. of total frontage. The elevator building has 60 units consisting of eight one-bedroom units, 37 two-bedroom units and 15 three-bedroom units. Director of sales Stephen Palmese who exclusively handled this deal with Massey Knakal chairman Bob Knakal. There is a courtyard located outside the lobby. The top floor of the building contains five penthouse apartments with private terraces The building is located less than two blocks from the F and G subway station and offers convenient access to both bus and highway transportation. "As the rental market continues to strengthen, investors seek the security of quality, income producing properties. This asset represents everything investors look for when placing capital in today's market," said Palmese. Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,200 transactions having a market value in excess of $15 billion.