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Upper Manhattan Real Estate Package Valued at Whopping $100M, Reports Say

By Carla Zanoni | April 13, 2011 7:06pm
The newly constructed building at 177-183 Dyckman Street is part of a package of Upper Manhattan properties up for sale, which is valued at $100 million.
The newly constructed building at 177-183 Dyckman Street is part of a package of Upper Manhattan properties up for sale, which is valued at $100 million.
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DNAinfo/Carla Zanoni

By Carla Zanoni

DNAinfo Reporter/Producer

UPPER MANHATTAN — All you real estate moguls with $100 million lying around, listen up.

The firm Massey Knakal announced this week that it will represent one of the largest real estate deals in recent New York history, covering more than 200,000 square feet of property throughout Harlem, Washington Heights and Inwood, according to reports.

Industry sources value the sale at approximately $100 million, The Observer first reported. The realty firm put together six developments in Northern Manhattan for the package.

The properties included in the deal are a 5,000-square-foot retail building where Children's Place and Gold City of Harlem operate across the street from the Apollo Theater on 125th Street; two buildings totaling 41,600 square feet of space on Broadway near 146th Street; a full block of retail space on Broadway, between 138th and 139th streets; an 85,176-square-foot parking garage in Washington Heights; a 125-car lot at 141-149 Dyckman Street; and a newly constructed two-story retail building at 177-183 Dyckman St.t, which houses Planet Fitness gym and a soon-to-open 7-Eleven convenience store.

Robert Knakal, chairman at Massey Knakal, did not immediately return calls for comment or details on the sale, but told the Observer that packaging the spaces together instead of separately could be attractive to potential buyers.

"These properties present a fantastic value-added opportunity for a developer/investor to create additional value," he said in a written statement.

In 2009, Massey Knakal was successful in selling a package of nine apartment buildings in Harlem for $26.9 million, which was said to be the largest sale "of any kind in Upper Manhattan," according to analysts at Real Capital Analytics.