NEW YORK CITY—Massey Knakal Realty Services has been tappedexclusively to sell 180 Livingston St. in Downtown Brooklyn.Theclass A office property—which sits between Smith and Hoyt streetsin the Tech Triangle—features more than 165,000 square feet ofrentable space and another 142,00-plus square feet of air rightswith the use of an inclusionary housing bonus.
The asking price for the asset is about $100 million. Publishedreports question the number but Massey Knakal partner StephenPalmese, who is marketing the property, contends to GlobeSt.comthat several factors add up the number being perfectly logical.
“For a more than 250,000-square foot office space—which netconstruction costs will put you into the property at $500 persquare foot—that's a good number in what's equivalent to a MidtownSouth market.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
