Perry Street Garage Marketed to Become Luxury Housing

By Andrea Swalec on July 2, 2013 3:04pm 

 The parking garage at 125 Perry St. could be converted into luxury homes or entirely demolished.
The parking garage at 125 Perry St. could be converted into luxury homes or entirely demolished.
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Massey Knakal Realty Services

MANHATTAN — From parking spots to posh digs.

A four-story parking garage on Perry Street at Greenwich Street has hit the market and could be converted to high-end housing, according to brokerage Massey Knakal Realty Services.

The 40,000-square-foot garage at 125 Perry St. will be sold as a development site that could be converted to condos, demolished to make way for a new residential building or even overhauled to create one giant home, the real estate firm announced Tuesday.

Massey Knakal chairman Bob Knakal said he expected a big price tag for the corner property.

"We're not setting an asking price because we think the sky's the limit for what someone could pay for it, given what a unique asset it is," he said, citing the size of the lot and its corner location.

Sources told The Real Deal they expect the garage to sell for as much as $1,500 per square foot, or $60 million total.

West Village condos have averaged $2,171 per square foot over the past 90 days, according to a CityRealty report cited by The Real Deal. That marks a 5.6 percent increase compared to the previous 90-day period.

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