NEW YORK-Brokerage firm Massey Knakal reports that it has arranged the sale of two Chinatown office buildings for a record price of $33.6 million.

The Oved Group's Issac and Joseph Oved acquired the adjacent properties at 40-42 Elizabeth St. and 159-165 Canal St., according to the Commercial Observer. The sales price was a record-breaker for office properties on Canal Street.

The 40-42 Elizabeth St. property is a five-story, 24,425-square-foot renovated office building that features two ground floor retail stores and 16 office units.

The two-story 159-165 Canal St. building totals 5,000 square feet of space and has six ground floor retail tenants anchored by First Republic Bank and office tenants on the second floor.

“This was a fantastic transaction because both the sellers and the buyers were able to walk away feeling good,” states Massey Knakal CEO Paul Massey, who exclusively handled the deal with colleagues Robert Burton and Nick Petkoff. “Because we were able to sell the properties together, the buyers saw more potential to unlock value and were willing to pay a premium for each property, allowing us to set a record price per square foot for Canal Street and achieve 15 percent above-market for a side street in the neighborhood,” See story in the Commercial Observer.