A corner bank building at 7524 3rd Avenue in Bay Ridge, Brooklyn was sold in an all cash transaction valued at $1,100,000.(Sales

A corner bank building at 7524 3rd Avenue in Bay Ridge, Brooklyn was sold in an all cash transaction valued at $1,100,000. The three-story, mixed-use building measures approximately 4,312 s/f and sits on a 19' x 80' lot. The first floor is occupied by Dime Savings Bank. Both second and third floors contain a 3-bedroom apartment. "This property, which sold for the first time in 23 years, commanded a 5.45% capitalization rate, $255 per square foot," said Massey Knakal first vice president of sales Stephen P. Palmese who exclusively handled this transaction with first vice president of sales Matthew Giordano.

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