Wednesday, February 9, 2011

A record-setting sale at 221 First Avenue

Massey Knakal sent out a news release yesterday about the sale of 221 First Avenue between 13th Street and 14th Street for $4.4 million. The buyer and seller weren't named.

According to the release:

The four-story property is approximately 3,954 square feet and sits on a 22’ x 56’ lot. There are three fully renovated three-bedroom apartments that are free market. The 1,050 square foot retail unit on the ground floor is currently leased to SeƱor Pollo, a Latin American chicken and sandwich bistro. The 3 floor-through apartments which rent on average for $4,900 per month benefit from fireplaces, exposed brick, and either a private roof deck or large terrace. The property also benefits from its close proximity to transportation, shopping, dinning and parks. The sale price equates to $1,112.80 per square foot.

This sale represents the highest price per square foot ever paid for a mixed-use investment property in the East Village,” said Massey Knakal Vice Chairman John F. Ciraulo ...

1 comment:

HippieChick said...

Who wants to pay rent like that to live over a chicken restaurant?