180 B'way nets $10m.A 12-story, elevatored commercial building at 180 Broadway in Manhattan's Financial District 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 in a transaction valued at $10,200,000. The 26' x 103' property is located on the east side of Broadway between John Street and Maiden MAIDEN. The name of an instrument formerly used in Scotland for beheading criminals. Lane. The building contains approximately 24,307 square feet including a full basement and has a store occupying the ground and second floors. Offices are located in the upper floors. 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 6.55% and a gross rent multiple of 10.85. The property sold for $419.63 per square foot. "The building enjoys 26 feet of frontage on Broadway, one of the main road arteries Arteries Blood vessels that carry oxygenated blood away from the heart to the cells, tissues, and organs of the body. Mentioned in: Adrenergic Blockers, Angiotensin-Converting Enzyme Inhibitors, Antihypertensive Drugs, Hypertension, Thrombolytic Therapy, of the city," said Massey Knakal Partner Shimon Shkury, who exclusively represented the seller with Brokers Michael and Peter DeCheser. Massey Knakal Realty Services was the sole broker in this transaction. |
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