Five-Story Industrial Building at 113-117 Chrystie Street in the Lower East Side, Manhattan Sold for $6.9M

Successful Sale of 113-117 Chrystie Street in the Lower East Side, Manhattan

Bob Knakal and his team successfully closed the sale of 113-117 Chrystie Street, a five-story industrial property with development potential in the Lower East Side. The sale price of $6,900,000 marked a significant achievement, maximizing value for the seller through a well-executed market strategy.

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Sale Details

The transaction for 113-117 Chrystie Street was finalized on November 24, 1998. Bob’s deep understanding of the market allowed him to position the property effectively, ensuring competitive interest and a strong final sale price.

Sale Price: $6,900,000
Seller: Abe Feldman
Buyer: Kevin Maloney
Asset Class: Conversion, Development, Industrial, Office
Date Closed: November 24, 1998

Property Details

The five-story industrial building at 113-117 Chrystie Street featured a total of 42,960 square feet, making it a prime candidate for conversion or redevelopment. The Lower East Side location placed it in a rapidly evolving neighborhood known for its mix of historic architecture and new development opportunities.

Full Address: 113-117 Chrystie Street, New York, NY
Stories: 5
Total SF: 42,960
Price per SF: $160.61

Strategic Market Positioning

Bob Knakal’s strategy involved leveraging the property’s development potential and desirable location to attract the right buyers. By targeting both industrial users and developers, his team created a competitive environment that maximized the final sale price.

Neighborhood Overview

Prime Lower East Side location with a mix of industrial, commercial, and residential developments.
Proximity to key transportation hubs, making it a strategic asset for redevelopment.
Strong demand for conversion properties as the neighborhood evolved with new developments and investment.

Conclusion

The sale of 113-117 Chrystie Street highlights Bob Knakal’s ability to navigate the Lower East Side market and achieve the best possible outcome for his clients. Through market expertise, negotiation strategy, and buyer engagement, Bob secured a strong price and favorable terms for the seller.

Testimonial

"My son told me to call Bob Knakal to sell my building. I'm so glad I listened. Bob did an outstanding job for me and got us a great price. I highly recommend Bob Knakal if you want to sell a building in New York City."
— Al Feldman

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