Lower East Side Commercial Building Asks $32 M.
By Al Barbarino July 16, 2013 8:00 amreprints
Massey Knakal has been retained on an exclusive basis to sell a commercial building at 314-320 Grand Street for an asking price of $32 million.
The property occupies the entire block front between Allen and Orchard Streets on Manhattan’s Lower East Side.
The four-story building contains approximately 29,512 square feet and sits on a roughly 87 by 87 lot, with four retail spaces – one of which will soon include TD Bank on the entire northeast corner of Allen and Grand Streets.
Massey Knakal called the building “one of the most architecturally significant and prominent buildings in the Lower East Side,” as well as a strong investment opportunity on a “bustling” street.
“Block fronts are exceedingly rare opportunities, especially when they are in such prime downtown locations,” said Massey Knakal Partner James Nelson, who is exclusively marketing this property with Michael DeCheser, in a statement.
The brokers could not be immediately reached for further comment.