37-39 Warren Street in Tribeca NYC Office to Residential Building Conversion Secures $30.5M

Successful Sale of 37-39 Warren Street in Tribeca, Manhattan

Bob Knakal and his team successfully closed the sale of 37-39 Warren Street, a prime office building located in the heart of Tribeca. This transaction highlights Bob’s expertise in navigating Manhattan’s competitive real estate market, securing the highest possible price for the seller.

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Sale Details

The sale of 37-39 Warren Street concluded on August 10, 2007, at a price of $30,500,000. The property, located in one of Tribeca’s most sought-after neighborhoods, represents a premier opportunity for office-to-residential conversion. Bob Knakal and his team’s strategic marketing approach attracted significant interest from qualified buyers, resulting in an exceptional outcome.

Sale Price: $30,500,000
Seller: Heller Properties
Buyer: Millennium Group
Seller Type: Property Owner
Asset Class: Office, Conversion
Sale Date: August 10, 2007

Property Details

Situated in Tribeca, the building at 37-39 Warren Street spans 37,343 square feet, offering immense potential for conversion. With a prime location in Manhattan’s dynamic downtown market, this office property drew strong interest from developers and investors alike. Bob Knakal’s market insights and negotiation skills ensured a record-breaking price per square foot of $816.75.

Full Address: 37-39 Warren Street, New York, NY 10007
Zoning: Office, Conversion
Stories: Multiple
Building Size: 37,343 SF
Price per SF: $816.75

Market Strategy and Leverage

Bob Knakal’s approach combined strategic outreach and market leverage to maximize value for the seller. The property was marketed to a diverse range of potential buyers, emphasizing its location, flexibility, and conversion potential. This approach created a competitive bidding environment, culminating in a standout offer from the Millennium Group.

Neighborhood Overview

Tribeca, one of Manhattan’s most prestigious neighborhoods, is characterized by:

Historic Charm: Known for its cobblestone streets and cast-iron buildings.
Prime Location: Close proximity to City Hall Park, major transit hubs, and the Financial District.
High Demand: Attracting significant interest for office-to-residential conversions.
Vibrant Community: A mix of upscale dining, retail, and cultural landmarks.

Conclusion

The sale of 37-39 Warren Street underscores Bob Knakal’s exceptional ability to deliver results for his clients. His strategic marketing and negotiation skills ensured a record-breaking price and a seamless transaction process. This sale exemplifies the value of experienced representation in Manhattan’s competitive real estate market.

Testimonial

“Bob Knakal and his team did a great job for us selling 37-39 Warren Street. They did everything possible to ensure we got the highest possible price. We were thrilled with the results.” – Melvin Heller, Heller Properties

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