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Successful Sale of 1450 Second Avenue on the Upper East Side, Manhattan
Bob Knakal successfully closed the sale of 1450 Second Avenue, a 23,500-square-foot elevator multifamily building located on the Upper East Side. The property, consisting of 42 residential units, sold for $10,000,000. Bob’s market expertise and strategic communication ensured a smooth transaction while securing a strong price per square foot of $425.53.
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Sale Details
Positioned in one of Manhattan’s most desirable residential neighborhoods, the 42-unit elevator building provided a rare investment opportunity. Bob Knakal’s proactive approach and deep understanding of the market facilitated a successful sale at competitive terms.
- Sale Price: $10,000,000
- Property Type: Multifamily – Elevator
- Sale Date: January 24, 2005
- Building Size: 23,500 SF
- Price per SF: $425.53
- Units: 42
Property Details
Located at 1450 Second Avenue, this multifamily building stands as a prime investment asset in the heart of the Upper East Side. The building’s 42 residential units and elevator access offer long-term value in a neighborhood known for its blend of luxury living and accessibility.
- Full Address: 1450 Second Avenue, New York, NY 10021
- Property Type: Multifamily – Elevator
- Building Size: 23,500 SF
- Units: 42
The Client: An Owner Seeking a Strategic Exit
John Lantz, the property owner, sought a reliable advisor to guide the sale process of his 42-unit elevator building. Bob Knakal’s comprehensive market insights and consistent communication enabled the seller to achieve a favorable outcome.
Bob’s strategy focused on identifying qualified buyers with an interest in large-scale multifamily properties. This targeted approach resulted in a successful transaction that met the seller’s objectives while maximizing the building’s market value.
Market Strategy and Targeted Outreach
Bob Knakal and his team leveraged their extensive market knowledge to present the property to a select pool of qualified investors. By emphasizing the building’s prime location, elevator access, and scale, Bob positioned 1450 Second Avenue as a valuable addition to any multifamily portfolio.
Neighborhood Overview
The Upper East Side is known for:
- Prestigious residential buildings and luxury living.
- Proximity to Central Park and Museum Mile.
- Strong demand for multifamily investment properties.
- Access to upscale dining, shopping, and cultural institutions.
Conclusion
The sale of 1450 Second Avenue highlights Bob Knakal’s ability to deliver superior outcomes for property owners through strategic marketing and expert negotiation. By aligning with the client’s goals and leveraging market conditions, Bob ensured a successful sale at optimal terms.
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