Sale of 302-306 East 44th Street in Midtown East, Manhattan
Bob Knakal and his team successfully arranged the sale of 302-306 East 44th Street, a 34,000-square-foot commercial building located in the heart of Midtown East, Manhattan. The property, situated in a highly sought-after business district, presented a rare opportunity for a user-buyer to secure a prime location.
The transaction, which closed on March 19, 1986, was finalized for $5,700,000. Bob’s deep understanding of the Midtown East market and his strategic positioning of the asset allowed for an efficient and successful sale.
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Sale Details
Positioned near key Midtown East landmarks, 302-306 East 44th Street attracted strong interest from commercial users seeking a well-located property in one of Manhattan’s most established business corridors. The buyer, Skan Construction, recognized the property’s value and potential, leading to a timely closing.
- Sale Price: $5,700,000
- Property Type: Commercial, User
- Sale Date: March 19, 1986
- Neighborhood: Midtown East, Manhattan
- Building Size: 34,000 SF
- Price per SF: $167.65
Property Details
This Midtown East property offered a unique opportunity due to its substantial square footage and strategic location. Its accessibility and proximity to major commercial hubs made it a prime target for user-buyers.
- Full Address: 302-306 East 44th Street, New York, NY 10017
- Property Type: Commercial Building
- Size: 34,000 SF
- Stories: Multi-story
- Lot Size: Substantial footprint for commercial use
Market Strategy and Competitive Positioning
Bob Knakal’s approach focused on identifying motivated users who could maximize the property’s potential. By targeting businesses looking for a strategic Midtown East location, his team positioned the asset to attract serious buyers, ultimately securing a successful deal.
The sale was facilitated through:
- Direct outreach to user-buyers who could benefit from the building’s location and size.
- Market positioning to highlight the property’s accessibility and commercial potential.
- A strategic negotiation process to ensure optimal terms for the seller.
Neighborhood Overview
Midtown East remains a prime location for commercial real estate, with:
- Proximity to major business districts: Near Grand Central Terminal and the United Nations Headquarters.
- Strong commercial demand: Sought-after by businesses due to its accessibility and infrastructure.
- Development potential: Consistently attracting interest from investors and end-users.
Conclusion
The sale of 302-306 East 44th Street exemplifies Bob Knakal’s ability to connect motivated sellers with the right buyers, ensuring a smooth transaction and optimal outcome. His strategic market positioning and deep knowledge of Midtown East’s real estate landscape played a crucial role in the success of this deal.
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