NEW YORK—Massey Knakal has arranged the sale of two properties in New York City for a combined value of $5.1 million.
In the first transaction, a townhouse, currently comprised of nine rental apartment units, located at 110 West 87th Street on Manhattan’s Upper West Side, changed hands for $3.7 million. Located in the Central Park West Historic District, the five-story property includes a finished basement and consists of two ground-floor basement duplexes, three studios, three one-bedroom and one floor-through apartment. Constructed in the late 1800s by John G. Prague, the property maintains much of its original detail, including fireplaces, wooden staircase, high ceilings and moldings.
Massey Knakals’ Hall H. Oster, first vice president, and James P. Nelson, partner exclusively handled the transaction.
“We had a tremendous amount of interest in the house from end-users and investors alike which drove pricing above the asking price,” said Oster. “Ultimately we secured an all-cash buyer who closed on the property within a week of signing a contract.
In the second deal, 313 West 117th Street, a residential development site in West Harlem, was sold in an all-cash transaction valued at $1.4 million. With a lot area of approximately 2,523 sq. ft., the site contains 10,092 buildable sq. ft.
Massey Knakal’s Josh Lipton, first vice president, and Oster handled the transaction.