NEW YORK—An undisclosed buyer has paid $3.8 million in cash to acquire 127 West 94th Street, a preschool facility located between Amsterdam and Columbus avenues on Manhattan’s Upper West Side. Massey Knakal’s Director of Sales Hall Oster exclusively handled this transaction with Chairman Bob Knakal.
Owned and operated by a preschool since 1939, 127 West 94th Street is a four-story property containing approximately 3,900 sq. ft. The property is currently net-leased to another school through mid-2015.
The 16-ft. wide building was renovated in 2005-2006. Improvements included façade updates, multi-zoned HVAC system, rooftop and rear yard playgrounds, additional windows and bluestone staircase.
“After an extensive city-wide search we were able to identify the perfect end-user for the property. The buyer, another educational facility, was searching for a permanent home and had the flexibility to wait until the expiration of the lease to take possession,” said Oster.