crefeed.com | Massey Knakal sells eight-story loft building in Manhattan

1/9/2008

Massey Knakal sells eight-story loft building in Manhattan

264 Water St.

Mr. DeCheser

Massey Knakal Realty Services negotiated the sale of an eight-story loft building at 264 Water St. in the historic South Street Seaport District in lower Manhattan for $22 million.

Massey Knakal broker Michael DeCheser represented the seller, FGF Enterprises Corp., in the transaction. The purchaser, a Manhattan investor, lost his business after 9/11 and used settlement proceeds to acquire the property.

The elevatored building sits on the west side of Water Street between Dover and Peck Slip. It contains 27 luxury apartments which were all occupied and free market at the time of sale. The units range in size from 910-1,860 square feet and include views of the East River and the Brooklyn Bridge.

Mr. DeCheser is Massey Knakal's director of sales for Manhattan's Lower East Side. Prior to joining the firm in 1998, he helped run a family-owned construction and real estate management company.

Address: 264 Water St., New York City, N.Y.

Size: 27 units/47,278 square feet

Filed Under: Multi-Family

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