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Successful Sale of 105-107 St. Marks Place in the East Village
Bob Knakal and his team successfully closed the sale of 105-107 St. Marks Place, a 48-unit multifamily building in the heart of the East Village. The property, which spans 25,610 square feet, was sold for $11,000,000 on April 14, 2006.
This transaction highlighted Bob’s ability to navigate New York City’s highly competitive multifamily market, leveraging demand for well-located elevator buildings.
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Sale Details
Situated on a prime block in the East Village, 105-107 St. Marks Place attracted strong interest from buyers seeking income-producing assets. Bob and his team’s strategic outreach resulted in a competitive bidding process, ensuring the best outcome for the seller.
- Sale Price: $11,000,000
- Property Type: Multifamily – Elevator
- Date Closed: April 14, 2006
- Building Size: 25,610 SF
- Price Per SF: $429.52
- Number of Units: 48
Property Details
105-107 St. Marks Place is a well-maintained, 48-unit elevator building in the East Village. With a strong rental market and high demand for residential units in the neighborhood, the property presented a valuable investment opportunity.
- Full Address: 105-107 St. Marks Place, New York, NY 10009
- Building Type: Multifamily Elevator Building
- Stories: Multiple
- Lot Size: Not Disclosed
Bob’s team strategically positioned the property to attract serious buyers, emphasizing its desirable location, strong rent roll, and long-term appreciation potential.
Market Strategy and Competitive Positioning
Bob Knakal and his team implemented a targeted marketing approach to maximize exposure and create competitive leverage. By highlighting the property’s:
- Strong cash flow potential – The 48-unit layout allowed for stable rental income.
- East Village appeal – A sought-after neighborhood with vibrant dining, retail, and nightlife.
- Elevator accessibility – A key selling point in an area dominated by walk-up buildings.
These factors drove significant buyer interest, allowing for optimal negotiation terms.
Neighborhood Overview
The East Village remains one of Manhattan’s most in-demand residential neighborhoods, offering:
- Proximity to cultural landmarks – Tompkins Square Park, historic music venues, and theaters.
- Thriving food and nightlife scene – A diverse mix of restaurants, bars, and cafes.
- Strong rental market – Consistent demand from young professionals, students, and creatives.
- Accessibility – Close to multiple subway lines, making commuting convenient.
This prime location enhanced the property’s attractiveness to investors looking for stable, long-term value.
Conclusion
The successful sale of 105-107 St. Marks Place underscores Bob Knakal’s expertise in securing the best possible outcome for sellers in New York City’s competitive multifamily market. Through strategic positioning and strong market knowledge, Bob and his team maximized value, ensuring a smooth transaction at a strong price.
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