MASSEY KNAKAL ARRANGES $147M SALE/FINANCING OF CONDOMINIUM UNITS

NEW YORK — Massey Knakal Realty Services has arranged the sale and financing of a portfolio of residential condominium units within The Corinthian building. The property is located at 645 First Ave. in Manhattan’s Murray Hill neighborhood. The units were sold in an all-cash transaction valued at $147 million. Massey Knakal Capital Services arranged the acquisition and construction financing with a commitment amount of $125 million, with an initial funding of $115 million. The portfolio consists of 144 residential condominium units within a 57-story building, with an aggregate unit size of approximately 150,747 square feet. The property includes studio, one-, two- and three-bedroom units. The sale price equates to approximately $975 per square foot.