$1,000 psf for SoHo loft.An eight-story, mixed-use loft building at 145 Spring Street in Manhattan's SoHo neighborhood was sold by Massey Knakal Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Services for $13,250,000. The transaction occurred at a capitalization rate Capitalization Rate According to the Appraisal Institute, it is a method used to convert an estimate of a single year's income expectancy into an indication of value in one direct step, by dividing the income estimate by an appropriate rate. of 5.16% and a gross rent multiple of 15.54. The property sold for $972.48 per square foot. "The price paid for the property is reflective of the current investment sales market where we are seeing such a high demand for quality, mixed-use product in high traffic and strong retail locations," said Massey Knakal chairman Robert Knakal, who exclusively represented the seller with broker Robert Burton Robert Burton may refer to:
The 25' x 68', elevatored property is located on the north side of Spring Street between West Broadway and Wooster Street. It contains approximately 13,625 square feet. The basement and first floor were recently rented to a Portuguese jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. boutique. The second through sixth floors are floor-through, two-bedroom lofts in excellent condition. The seventh and eighth floors are configured as a penthouse penthouse Enclosed area on top of a building. A penthouse can be an apartment on the roof or top floor of a building or a structure on the roof housing the top of an elevator shaft, air-conditioning equipment, or stairs leading to the roof. duplex with high ceilings, skylights and a private roof deck. |
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