Massey Knakal Realty Services

Real Estate Weekly, March 1, 2000

In an all-cash transaction valued at approximately $1.95 million, the property at 144 East 30th Street has been sold, according to Robert A. Knakal, chairman of Massey Knakal Realty Services.

The property, located on the south side of East 30th Street between Lexington and Third avenues, is a 25-foot-wide, four-story mixed-use building. The property has commercial zoning on the first three floors and two one-bedroom apartments on the fourth floor. The building has been completely renovated, including new electric, plumbing, roof and HVAC system. The commercial space has every office wired for telephones, Internet, and computer networking capabilities. The purchasing entity plans on using the building for their business.

"Due to the advantageous commercial zoning of the property, we had many commercial users interested in the building in a relatively short period of time," said John Ciraulo, a partner in Massey Knakal who spearheaded the marketing efforts for the seller. "The property contained approximately 5,400 square feet and was delivered vacant to the purchaser at closing," Ciraulo added. Massey Knakal Realty Services represented the seller in this transaction, while the purchaser was represented by Bellmarc West.