Business Services Industry
Massey Knakal Realty Services, Inc
Real Estate Weekly, March 14, 2001
In an all-cash transaction valued at approximately at $5.8 million the property at 960 Madison Ave. has been sold, according to a report from Paul J. Massey, Jr., CEO of Massey Knakal Realty Services, Inc.
The property is located on the West side of Madison Ave., between 75th and 76th Streets. The building is a five-story, 25 foot wide, mixed-use property, containing a total of 8,375 SF. It houses a restaurant, Three Guys Coffee Shop, on the first floor, a retail store on the second floor, and six rent-regulated units on the upper three floors. The gross revenue on the property was approximately $364,000 and the net operating income $273,000.
Robert A. Knakal, chairman of Massey Knakal; was retained by Emmes & Co. to Exclusively market the property and represent the buyer.
Massey Knakal represented both parties in this transaction.
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