Successful Sale of Upper West Side Development Site Near Amsterdam Avenue
Bob Knakal successfully closed the sale of a prime development site located on the westerly blockfront of Amsterdam Avenue between 92nd and 93rd Streets. The transaction, valued at $54,000,000, represents a significant achievement for the seller, the Laska Family Trust.
The property, featuring two six-story buildings, was sold to Kent M. Swig of Swig Burris Equities. This development opportunity included 261,000 buildable square feet, making it a highly sought-after asset in the vibrant Upper West Side neighborhood.
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Sale Details
This premier development site attracted competitive interest, culminating in a final sale price of $54 million. Bob Knakal’s strategic approach and understanding of the Upper West Side’s real estate market played a key role in achieving the optimal outcome for the seller.
- Sale Price: $54,000,000
- Seller: Laska Family Trust
- Buyer: Swig Burris Equities
- Property Type: Development, Multifamily - Elevator, Mixed-Use
- Sale Date: March 21, 2005
Property Details
The property, spanning two six-story buildings with a combined lot size of 200 x 150 feet, offers extensive development potential. With 261,000 buildable square feet and a price per BSF of $206.90, the site presented a unique investment opportunity in a highly desirable neighborhood. The site is known for its excellent connectivity, robust demand for multifamily developments, and proximity to notable attractions.
- Full Address: 201 West 92nd Street, 200 West 93rd Street (656-64 Amsterdam Avenue and 666-74 Amsterdam Avenue)
- Neighborhood: Upper West Side
- Lot Size: 200 x 150
- Building Stories: 6
- Buildable SF: 261,000
- Units: 148
Neighborhood Overview
The Upper West Side is one of Manhattan’s most prestigious and vibrant neighborhoods, offering:
- Proximity to Central Park and Riverside Park, providing abundant green spaces.
- A mix of historic architecture and modern developments.
- A thriving cultural scene, with landmarks such as the American Museum of Natural History.
- Strong demand for multifamily housing and mixed-use developments.
Conclusion
The successful sale of this Upper West Side development site underscores Bob Knakal’s ability to navigate complex transactions and maximize value for clients. By leveraging his market expertise and maintaining clear communication, Bob secured an outstanding outcome for the Laska Family Trust.
Testimonial
“We wanted to find a buyer who believed in the development potential of our property. Bob Knakal and his team found the perfect buyer for our site, and we could not be happier with the results. We highly recommend him to the sellers of any property in New York City. They are the best in the business.”
– Jeffrey Laska, Laska Family Trust
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