Massey Knakal Realty Services has sold three buildings in Manhattan’s Greenwich Village neighborhood. The buildings are located at 175-177 and 179 MacDougal Street (aka 40-42 West 8th Street) and were sold in all cash transaction valued at $11,400,000.
These buildings are on two block and lots which combine for an L shaped parcel with 75’ of frontage on MacDougal and almost 45’ of frontage on West 8th Street. Between the buildings, there are a total of nine stores and 10 rent regulated apartments.
175-177 MacDougal Street, which was built in 1837 in the Greek revival style, consists of two mixed-use buildings overlooking the historic MacDougal Alley and steps from Washington Square Park. The buildings consist of 10 apartments, two retail spaces and two commercial spaces.
179 MacDougal Street (aka 40-42 West 8th Street) consists of a one-story building with five retail tenants. Two of the stores encroach onto 175-77 MacDougal’s backyard. This property makes an L with 25’ of frontage on MacDougal and almost 45’ on West 8th Street. There is a lower level cabaret C of O for 210 people which occupies the entire lower level of the property. The club was originally known as Bon Soir where Barbara Streisand performed.
“West 8th Street is rapidly changing. The arrival of Stumptown, a West coast coffee shop who opened their first location in the ACE hotel, across the street from this property is a game changer,” said Massey Knakal Partner James P. Nelson who is exclusively handled this transaction. “The buyer, a long term holder, will benefit from this future upside,” added Nelson.
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Neighborhoods: Greenwich Village/ Agents: James Nelson