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Columbia Street Building Sells for $1.142M

COLUMBIA STREET WATERFRONT DISTRICT — CPEX Real Estate reports the sale of a mixed-use property at 200 Columbia St. in the Columbia Street Waterfront District. It sold for $1.142 million, according to Timothy King, principal, who said 15 offers were received.

Scott Burk, Esq. and Andre Sigourney, both associate directors at CPEX, represented the sellers in the transaction.

The five-story building contains one retail space and six rent-stabilized apartments in approximately 5,712 square feet. The property was delivered with one rent-stabilized tenant and one commercial tenant.

According to Burk, the new owner will renovate the building’s entire infrastructure, including its mechanical systems and roof.

“Fueled by the strength of the surging residential rental market along with the highly desirable location of the property, we received an enormous amount of interest from the local commercial real estate community,” said Burk.

March 8, 2012 - 4:22pm


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