Sales Beat

Trevi Retail Adds to Portfolio with $17M Acquisition of 859 Ninth Avenue

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Trevi Retail has closed on its $17 million acquisition of 859 Ninth Avenue, a six-story mixed-use building featuring 41 apartments and a retail unit currently occupied by Italian restaurant Puttenesca.

“It is a very desirable neighborhood right now and the property has substantial upside in both the retail component and residential component,” Paul Smadbeck of Massey Knakal, who brokered the sale alongside Chirstoffer Broadhead, told The Commercial Observer. “[Trevi] recognized the upside of the building and the desirability of the location.” Read More

Sales Beat

Retail Condo Sells for $12.2 M in Neighborhood Rife With Paparazzi After Colossal Katie Holmes Sighting

(Credit: Taylor Hill/Getty)

A retail condominium at 383-391 Amsterdam Avenue (172 West 79th Street), with a mix of six retail tenants in place and located within gawking distance of a recent Katie Holmes citing next door, has sold for $12.2 million, The Commercial Observer has learned.

The condominium, on the corner of Amsterdam Avenue and West 79th Street, is divided into six stores totaling approximately 4,070 rentable square feet at ground level, with 102 feet of frontage on Amsterdam Avenue and 30 feet on West 79th Street, in a posh Upper West Side retail corner. Read More

Sales Beat

Massey Knakal Arranges $21.25M Sale of UWS Apartment Building

220 West 71st Street

Massey Knakal has arranged the sale of an apartment building at 220 West 71st Street in Manhattan’s Upper West Side for $21.25 million, The Commercial Observer has learned.

Located between Broadway and West End Avenue, the 38,463-square-foot, pre-war, 53-foot wide elevator apartment building has nine stories, a penthouse, and great upside potential for the new owner.

It’s a gem in a neighborhood mostly void of available elevator product, said Paul Smadbeck, a Massey Knakal senior vice president of sales, who represented both parties in the transaction. Read More