Sitt of Massey Knakal completes $8.5 million sale

Massey Knakal's Special Asset Strategy Group completed the sale of 35-39 Cooper Sq. The mixed-use development site, located on the northeast corner of Cooper Sq. and East 6th St., sold in an all cash transaction valued at $8.5 million. The combined lot size is 4,833 s/f, in a C6-1 zone, with a total buildable 28,998 s/f. "We generated over 30 offers in under 45 days," said first VP of sales, Joe Sitt who exclusively handled this transaction with the assistance of Massey Knakal's Special Asset Strategy Group. "The buyer is a known and respected developer who performed as expected on a two week T.O.E. close. It just goes to show there is always strong demand when locations are prime." Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 2001, their agents have closed over 2,000 transactions, with an aggregate value of approximately $10 billion.