Tales of Investment Sales
Sugar Hill Capital Partners has purchased 50 Orange Street in Brooklyn Heights for $7.1 million from the Jehovah’s Witness-operated Watchtower Bible and Tract Society of New York, brokers have revealed.
Massey Knakal has sold a corner mixed-use loft building in TriBeCa for $20 million, the firm announced last week.
The landmarked 33,400-square-foot building, located at 7-9 Harrison Street, boasts 24 IMD units and a retail space.
When we look at the performance of the retail sector of the building sales market, we generally look at how the retail rental market is doing to gain some insight into what can be expected on the sales side.
To a large degree, the health of this sector is dependent upon consumer sentiment and, subsequently, Read More
To seasoned retail brokers, the very concept of the next big neighborhood in a city that has been developed several times over is, well, naïve. Still, as The Commercial Observer recently learned, most are still looking for a reason to believe.
Ellaina Dreifach, the former director of retail leasing for Massey Knakal who left the firm after only nine months following a public dispute, has landed a job at JDF Realty, she told The Commercial Observer.
JDF Realty principal Robert Frischman confirmed the hire in an email to The Commercial Observer, adding that she will be a “director” at the firm.
Last week, Massey Knakal hosted its annual Multi-Family Summit at the McGraw-Hill Conference Center in midtown. The crowd of over 700 attendees had an opportunity to hear perspectives from dozens of speakers, including many of the top participants in this market segment in New York City.
Tales of Investment Sales
Sherwood Equities and Fidelity Real Estate Group have entered into a joint venture to purchase 356-366 10th Avenue, a stalled development site in the rapidly growing Hudson Yards district, for $42 million, according to a source familiar with the transaction. Located adjacent to the northern end of the High Line, the site will allow for Read More
Big Real Estate
Massey Knakal is marketing one of the largest investment-sales portfolios in recent years in New York City.
The more than 200,000-square-foot bouquet includes six development sites and income-producing properties in northern Manhattan. “We expect tremendous interest in this portfolio, which would take years to put together individually,” firm chairman Robert Knakal, who is leading the assignment (and Read More
A landmarked, 124-year-old building at the center of the Upper West Side’s high-end shopping stretch has gone on the block for $13.5 million, according to brokers. Besides being historic, however, the mixed-use building at 241-247 Columbus Avenue, at 71st Street, is already home to more than 100 feet of retail frontage, including space filled by Read More
As co-founder and chief executive of Massey Knakal, Paul Massey Jr. has overseen the rise of New York City’s largest investment-sales brokerage. Mr. Massey, 51, talked last week about the launch of the firm’s new Capital Services group, his forecast for 2011 and partner Robert Knakal’s legendary coif.
The Commercial Observer: Read More