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Successful Sale of 11-15 West 8th Street in West Village, Manhattan
Bob Knakal and his team successfully arranged the sale of 11-15 West 8th Street, a 36-unit elevator multifamily building in the heart of Manhattan’s West Village. The property was sold for $14,500,000 in a competitive transaction that highlighted strong investor demand for well-located multifamily assets.
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Sale Details
Bob Knakal’s strategic approach helped secure a $14.5 million sale price, ensuring the best possible outcome for the seller. The deal closed on January 6, 2005, with terms that reflected the high desirability of the West Village market.
- Sale Price: $14,500,000
- Property Type: Multifamily – Elevator
- Units: 36
- Square Footage: 30,858 SF
- Price per SF: $469.89
- Closing Date: January 6, 2005
Property Details
Located in one of Manhattan’s most sought-after neighborhoods, 11-15 West 8th Street is a 36-unit elevator multifamily building offering a prime investment opportunity. The property features a generous 30,858 square feet, making it an attractive asset in the competitive West Village market.
- Full Address: 11-15 West 8th Street, New York, NY 10011
- Stories: Multiple
- Zoning: Multifamily – Elevator
- Building Type: Elevator Multifamily
- Neighborhood: West Village, Manhattan
Strategic Market Approach
Bob Knakal’s team leveraged the property’s prime West Village location to attract significant interest from investors. The team’s approach included:
- Marketing the property to both private and institutional buyers seeking stable multifamily investments.
- Highlighting the strong rental demand and long-term value of West Village properties.
- Positioning the asset as an opportunity for future appreciation given the neighborhood’s consistent market growth.
Neighborhood Overview
The West Village remains one of Manhattan’s most coveted residential and investment markets, known for its:
- Historic charm and tree-lined streets.
- Proximity to premier shopping and dining along Bleecker Street.
- Easy access to multiple subway lines, enhancing connectivity.
- Consistently high demand for rental housing, ensuring long-term stability for multifamily investors.
Conclusion
The sale of 11-15 West 8th Street exemplifies Bob Knakal’s expertise in maximizing value for property owners through strategic marketing and negotiation. By understanding investor demand and the unique characteristics of the West Village market, Bob and his team successfully secured a competitive price and strong sale terms for this elevator multifamily property.
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