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Air is sold for $1m.

A total of 14,000 s/f of air rights at 117 West 28th Street in Manhattan's Midtown South neighborhood were sold by Massey Knakal Realty Services a transaction valued at $1,000,000.

A hotelier previously purchased a development site through Massey Knakal at 119-121 West 28th Street and had interest in acquiring additional buildable square feet from the neighboring building. The property is located north side of West 28th Street between Avenue of the Americas and 7th Avenue. It sold for $71.43 per buildable square foot.

"Massey Knakal facilitated what the hotelier wanted," said Massey Knakal Chief Executive Officer John Ciraulo, who exclusively represented the seller with Broker David Kalish.

The property was purchased by a hotelier from Queens. Massey Knakal Realty Services was the sole broker in this transaction.
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Title Annotation:hotelier from Queens acquires property
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Aug 10, 2005
Previous Article:Hot industrial market produces $5.7m sale.
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