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Sweet deal for Massey Knakal duo

10:39 am, January 23, 2013

383-391 Amsterdam Avenue

Massey Knakal’s Guthrie Garvin and Paul B. Smadbeck have pulled off a sugar plumm retail sale on the Upper West Side.

The duo sold the retail condominium at 383-391 Amsterdam Avenue (172 West 79th Street), on the corner of Amsterdam and West 79th for $12,200,000.

The prime, half-block long condo is divided into six stores totaling approximately 4,070 s/f rentable square feet at ground level with 102 feet of frontage on Amsterdam Avenue and 30 feet on West 79th Street. The sale price equates to $2,998 per rentable square foot.

The property is directly adjacent to the newly opened crowd-drawing flagship location of Sugar and Plumm, the well-known upscale sweet shop and bistro.

“With strong rents and diverse tenant base, this property was a tremendous acquisition on one of the most prime retail corners on the Upper West Side,” said Garvin, a first vice president at the brokerage.

Meanwhile, the retail leasing team announced “The best Philly Cheese Steaks in Manhattan are about to hit the Financial District.”
Wogies of Greenwich Avenue will be opening its second location at 44 Trinity Place in the heart of Downtown following a deal worked out by Massey Knakal director of retail leasing Will Suarez, who exclusively handled the transaction with partner James P. Nelson.

The block-through space contains 2,000s/f on the ground floor and 2,000 s/f of basement space. It has 11 feet of frontage on Trinity Place and 14 feet of frontage on Greenwich Street.

Located just south of the 9/11 Memorial, Trinity Church, the New York Stock Exchange, tourist attractions, office buildings, and public transportation, the neighboring retailers include Century 21, Hermès, Blossoms and TGI Friday’s.

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