Massey Knakal to handle 17-building East Village portfolio

December 05, 2008 10:45AM

Massey Knakal announced that it has been retained to handle the sale of
a portfolio of 17 East Village walk-up apartment buildings. Fifteen of
the buildings are mixed-use and the remaining two are purely
residential. These buildings were originally purchased by developer
Extell in 2006 for $72 million and then sold to Westbrook Partners for
$97.5 million in 2007. Many of the retail and commercial tenants have
since left the properties. The buildings are listed individually — and
Massey Knakal said
it hopes to sell them that way, to make financing easier and to get
more for the buildings — but their asking prices add up to nearly $120
million. TRD

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