Successful Sale in Manhattan’s Financial District
Bob Knakal and his team facilitated the successful sale of 111 Washington Street on September 20, 2021. This transaction represented a significant achievement for the corporate seller, who entrusted Bob’s team to maximize the property’s value in a competitive market.
Sale Details
The sale included a portfolio of four buildings located in the Financial District, a prime Manhattan neighborhood known for its commercial and residential developments. Bob’s expertise in market trends and his ability to connect with potential buyers resulted in a competitive sale price of $86,000,000.
- Sale Price: $86,000,000
- Seller Type: Corporation
- Asset Class: Development
- Neighborhood: Financial District
- Borough: Manhattan
- Buildings/Lot: 4
- Sale Date: September 20, 2021
Property Details
The site at 111 Washington Street offered substantial potential for development in the heart of the Financial District. Its proximity to landmarks such as the World Trade Center, Battery Park, and major transportation hubs made it a sought-after location for investors and developers.
- Full Address: 111 Washington Street, Manhattan, NY
- Property Location: Near One World Trade Center and The New York Stock Exchange (NYSE)
- Zoning: Development
- Property Type: Development Site
The Client: A Corporate Seller Seeking Expertise in Development Sales
The corporate seller turned to Bob Knakal and his team to navigate the complexities of selling a prime development site in one of Manhattan’s most competitive markets. With a focus on maximizing value and leveraging market conditions, Bob’s team developed a targeted strategy to attract the right buyer.
The property’s appeal as a large-scale development opportunity drew significant interest, ultimately leading to a seamless and lucrative transaction.
Market Strategy and Leverage
Bob Knakal’s team conducted a detailed market analysis and utilized their extensive network to connect with interested parties. Their strategic consulting services included a comprehensive review of zoning potential, property valuation, and buyer engagement, ensuring the best possible outcome for the seller.
Neighborhood Overview
The Financial District is one of Manhattan’s most dynamic and historically significant neighborhoods, featuring:
- Iconic landmarks such as the New York Stock Exchange and Freedom Tower.
- A vibrant mix of residential, commercial, and retail spaces.
- Strong demand for development opportunities in a growing market.
The sale of 111 Washington Street underscored the continued interest in development sites in this bustling area, highlighting its investment potential.
Conclusion
The $86 million sale of 111 Washington Street is a testament to Bob Knakal’s expertise in high-value transactions and his ability to deliver exceptional results for his clients. By leveraging market insights and strategic negotiations, Bob and his team secured a successful outcome that met the seller’s objectives.
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