Successful Sale of 56 West 45th Street in Midtown West
Bob Knakal and his team successfully completed the sale of 56 West 45th Street, a premier office building owned by high-net-worth individuals Marjorie Nesbitt and Alessandro Perrone.
The sale, finalized on January 5, 2017, marked a milestone achievement for the sellers, who entrusted Bob with representing their interests. Bob’s comprehensive market strategy and global outreach resulted in intense bidding activity, leading to a closing price of $50 million.
Sale Details
The 17-story office building at 56 West 45th Street was sold for $50 million to Nader Ohebshalom of Gatsby Enterprises. The final terms included a price of $753.01 per square foot, reflecting the property’s value as a prime asset in Midtown West.
Opening Sentence: Bob Knakal’s extensive market reach and trusted expertise proved critical in securing the optimal outcome for this high-profile transaction.
- Sale Price: $50,000,000
- Seller: Marjorie Nesbitt & Alessandro Perrone
- Seller Type: High-Net-Worth Individuals
- Buyer: Nader Ohebshalom, Gatsby Enterprises
- Asset Class: Office
- Property Type: 17-Story Office Building
- Sale Date: January 5, 2017
Property Details
The property at 56 West 45th Street is a 17-story office building located in the vibrant Midtown West neighborhood of Manhattan. This premier asset features:
- Lot Size: 4,016 square feet
- Total SF/BSF: 66,400 square feet
- Price per SF/BSF: $753.01
- Stories: 17
- Units: 25
As one of the tallest properties in the block, 56 West 45th Street offered significant potential for office use and future investments, making it a highly competitive asset in the Midtown West market.
The Client: High-Net-Worth Sellers Seeking Expertise
Marjorie Nesbitt and Alessandro Perrone, the sellers of 56 West 45th Street, were high-net-worth individuals seeking a trusted advisor for the sale of their prominent office building. They chose Bob Knakal due to his extensive track record of delivering exceptional results for families and private owners.
Bob’s approach involved targeted domestic and international exposure, ensuring maximum interest and competitive bidding activity. His ability to navigate complex negotiations and deliver a seamless process underscored his reputation as a leader in New York City’s commercial real estate market.
Market Strategy and Bidding Activity
Bob Knakal and his team implemented a global outreach strategy, leveraging both foreign and domestic interest to create a competitive bidding environment. This approach included:
- Broad marketing campaigns targeting local and international investors.
- In-depth market analysis to determine optimal pricing and terms.
- Regular updates and transparent communication with the sellers throughout the process.
This strategy resulted in multiple offers, ultimately driving the sale price to $50 million—well above initial expectations.
Neighborhood Overview
Midtown West is one of Manhattan’s most desirable locations, offering:
- Proximity to Major Landmarks: Near Bryant Park, Times Square, and Grand Central Terminal.
- High Demand for Office Space: Vibrant business hub with strong demand for Class A and B office properties.
- Accessibility: Convenient access to major transportation lines, enhancing tenant appeal.
Conclusion
The sale of 56 West 45th Street is a testament to Bob Knakal’s dedication to achieving exceptional results for his clients. By employing a strategic and personalized approach, Bob and his team secured a record-breaking price and favorable terms, ensuring the best possible outcome for Marjorie Nesbitt and Alessandro Perrone.
Testimonial
“We decided to retain Bob Knakal and his team as this property was right down the heart of the plate for them. Bob’s experience and track record as a trusted advisor to families like ours is tremendous. Through extensive foreign and domestic exposure, along with tremendous bidding activity, we know we obtained the best price possible.”
– Marjorie Nesbitt & Alessandro Perrone
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