$40M Multi Family Elevatored Apartment Building Sale of 27 Washington Square North to NYU

Successful Sale of 27 Washington Square North

Bob Knakal and his team successfully closed the sale of 27 Washington Square North, a 7-story multifamily elevator building located in the heart of Manhattan's West Village. The property, previously owned by Vornado Realty Trust, was sold to New York University for $40,000,000.

The transaction highlights Bob’s ability to navigate complex institutional sales and secure deals that align with the unique goals of both the seller, a leading REIT, and the buyer, a renowned academic institution.

Sale Details

The sale involved a prime property located directly on Washington Square Park, making it an attractive acquisition for NYU to expand its campus footprint. Bob Knakal’s market expertise helped ensure smooth negotiations and a favorable outcome for both parties.

Sale Price: $40,000,000
Seller: Vornado Realty Trust (Institution, REIT)
Buyer: New York University (Academic Institution)
Asset Class: Multifamily - Elevator
Sale Date: June 21, 2018

Property Details

27 Washington Square North is a 7-story building with 27 residential units and a total square footage of 32,409. Its prime location across from Washington Square Park and proximity to NYU made it a highly desirable acquisition.

Address: 27 Washington Square North, New York, NY 10011
Lot Size: 6,345 SF
Building Size: 32,409 SF
Stories: 7
Units: 27
Price per SF: $1,234.23

Neighborhood Overview: West Village

The West Village is a historic and highly sought-after Manhattan neighborhood. Known for its cobblestone streets, charming townhouses, and vibrant cultural scene, it’s also home to world-class dining and shopping options. The area’s proximity to Washington Square Park and New York University further enhances its appeal as a residential and institutional hub.

Conclusion

The $40 million sale of 27 Washington Square North demonstrates Bob Knakal’s expertise in facilitating high-stakes transactions involving institutional buyers and sellers. This transaction further solidifies Bob and his team’s reputation for delivering value in the competitive Manhattan real estate market.

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