8/15/2008

Massey Knakal sells Manhattan parking garage for $11.5 million

by
Robert Knakal of Massey Knakal Realty Services represented the seller in the sale of a 105-space parking garage in Midtown East Manhattan for $11.5 million, or $469.39 per square foot.

The buyer was a Long Island parking company.

The property, located at 212 E. 47th St., contains 105 legal parking spaces, but has potential for as many as 165 spaces. The lot spans roughly 24,500 square feet.

The garage is currently being leased by Central Parking System. Its lease expires March 31, 2009, and there is no renewal option.

Address: 212 E. 47th St., New York, N.Y.

Size: 105 spaces, 24,500 square feet

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Filed Under: Mixed Use

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