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Successful Sale of 203 West 107th Street in Manhattan Valley
Bob Knakal successfully facilitated the sale of 203 West 107th Street, a 29-unit elevator apartment building in the Manhattan Valley section of the Upper West Side. The property, spanning 34,515 square feet, was a prime multifamily investment opportunity.
The sale, which closed at $10,725,000, reflects the ongoing demand for well-located residential assets in the neighborhood. Bob’s market expertise and strategic negotiations helped ensure a strong outcome for the transaction.
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Sale Details
This 29-unit apartment building, featuring an elevator and spacious layouts, attracted significant investor interest. The final sale price of $10.73 million represented a price per square foot of $310.73, making it a compelling deal in the competitive Upper West Side market.
- Sale Price: $10,725,000
- Property Type: Multifamily – Elevator
- Sale Date: June 11, 2013
- Units: 29
- Building Size: 34,515 SF
- Price per SF: $310.73
Property Details
Located in the vibrant Manhattan Valley section of the Upper West Side, 203 West 107th Street presented an attractive investment opportunity. The property's elevator access, spacious unit configurations, and prime location contributed to its desirability. The transaction underscored investor confidence in the area’s rental market.
- Full Address: 203 West 107th Street, New York, NY 10025
- Property Type: Multifamily – Elevator
- Building Size: 34,515 SF
- Number of Units: 29
Market Strategy and Negotiation
Bob Knakal and his team utilized a strategic marketing approach to showcase the property’s potential. By highlighting its strong occupancy, convenient location, and value-add opportunities, the team positioned the asset for maximum exposure.
The sale process involved engaging with a mix of institutional and private investors, ensuring competitive bidding that led to a favorable closing price.
Neighborhood Overview
Manhattan Valley, a subsection of the Upper West Side, offers a mix of historic charm and modern conveniences:
- Proximity to Key Attractions: Near Columbia University and Riverside Park.
- Thriving Rental Market: High demand for well-maintained multifamily properties.
- Strong Investor Interest: Sought-after location for long-term residential investments.
Conclusion
The sale of 203 West 107th Street highlights Bob Knakal’s ability to maximize value through strategic marketing and negotiation. By positioning the property effectively and leveraging market insights, Bob and his team delivered a strong result for this multifamily asset in the Upper West Side.
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