Successful Sale of 20 Beaver Street in FiDi, Manhattan
Bob Knakal and his team successfully closed the sale of 20 Beaver Street, a mixed-use, multifamily walk-up portfolio owned by Raymond Gindi of Century 21 Stores. The final sale price was $4,500,000, marking a significant achievement for the seller.
The property, located in the bustling Financial District, was sold to Beaver Street Commons LLC, led by Manouchehr Malekan. Bob’s market insights and consistent communication ensured that the seller achieved a strong return on the investment.
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Sale Details
The sale price for 20 Beaver Street was $4.5 million, reflecting a price per square foot of $664.70. The final terms included an efficient closing and favorable conditions, helping Raymond secure a smooth transaction.
- Sale Price: $4,500,000
- Seller: Raymond Gindi (Century 21 Stores)
- Buyer: Beaver Street Commons LLC, Manouchehr Malekan
- Property Type: Mixed-Use, Multifamily - Walk-Up, Portfolio
- Sale Date: January 8, 2013
- Neighborhood: Financial District (FiDi)
- Borough: Manhattan
- Lot Size: Not specified
- Building Size: 6,770 SF
- Units: 7
Property Details
Located in the heart of the Financial District, 20 Beaver Street offered a mixed-use space with multifamily walk-up units. The property included 7 residential units, making it an ideal investment for future development or management. The sale price of $4.5 million reflects the property’s prime location and versatile use.
- Full Address: 20 Beaver Street, New York, NY 10004
- Zoning: Mixed-Use, Multifamily - Walk-Up
- Units: 7
- Building Size: 6,770 SF
The Client: A Retailer Looking for Real Estate Guidance
Raymond Gindi, the seller and owner of Century 21 Stores, was an experienced high-net-worth individual seeking guidance for the sale of his real estate portfolio. Through consistent communication and market updates, Bob Knakal established a strong relationship with Raymond, providing the support and insight needed to maximize the property’s sale price.
When Raymond decided to sell the property, he turned to Bob for advice. The final offer of $4.5 million was achieved after strategic negotiations, making sure Raymond received optimal terms.
Market Strategy and Leverage
Bob Knakal’s strategy was built around understanding the Financial District market’s dynamics and leveraging the property’s location. The sale attracted interest from a variety of potential buyers, allowing Bob’s team to negotiate favorable terms and a higher price for the seller.
The Financial District, known for its strong demand for mixed-use developments and multifamily properties, proved to be an ideal location for this transaction.
Neighborhood Overview
The Financial District (FiDi) is one of Manhattan's most sought-after neighborhoods, offering a blend of historical charm and modern convenience.
- Key Landmarks: Wall Street, Battery Park, One World Trade Center
- Proximity to: Financial institutions, international businesses, and luxury residential developments
- Transit: Excellent access to subway lines and ferry terminals
- Demand: High demand for mixed-use and residential properties
Conclusion
The sale of 20 Beaver Street demonstrates Bob Knakal’s expertise in securing favorable terms and maximizing value for his clients. Through consistent market insights and strategic guidance, Bob helped Raymond Gindi achieve an excellent outcome for the sale of his mixed-use property.
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