Successful Sale of 406 West 39th Street in Hudson Yards, Manhattan
Bob Knakal and his team successfully closed the sale of 406 West 39th Street, a five-story walk-up multifamily property in the rapidly developing Hudson Yards neighborhood.
The sale price of $7,000,000 highlighted the demand for well-located residential properties in Midtown West. Through market expertise and strategic positioning, Bob and his team facilitated a smooth transaction, securing favorable terms for the seller.
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Sale Details
406 West 39th Street, a five-story walk-up building with eight residential units, was positioned as a prime investment opportunity. Bob Knakal’s strategy ensured the property was effectively marketed to interested buyers, maximizing competition and securing strong terms.
- Sale Price: $7,000,000
- Property Type: Multifamily – Walk-Up
- Closing Date: March 13, 2017
- Neighborhood: Hudson Yards, Midtown West
- Building Details: 5 stories, 8 units
- Total Square Footage: 14,862 SF
- Lot Size: 2,469 SF
- Price per SF: $471
Property Overview
Located at 406 West 39th Street, this five-story multifamily walk-up featured eight well-maintained residential units. The property’s proximity to the Hudson Yards development and Midtown West’s retail and transportation hubs made it a valuable asset in an evolving neighborhood.
Bob Knakal’s team leveraged these strengths to attract competitive interest, ensuring the best possible outcome for the seller.
- Full Address: 406 West 39th Street, New York, NY 10018
- Stories: 5
- Units: 8
- Zoning: Multifamily – Walk-Up
- Building Size: 14,862 SF
Strategic Market Approach
Bob Knakal’s approach to this transaction centered on positioning the property’s key strengths—its location, scale, and potential for long-term value appreciation. By emphasizing the growing demand for multifamily properties in Hudson Yards, his team created a competitive environment that led to a strong final sale price.
This sale further reinforces the increasing desirability of Hudson Yards for investors seeking stable multifamily assets with future growth potential.
Neighborhood Overview
Hudson Yards, one of Manhattan’s most transformative developments, continues to attract investors due to:
- Prime location near transportation: Close to Penn Station, the Lincoln Tunnel, and the 7 train.
- Growing demand for residential units: The area’s development has spurred interest in walk-up buildings with stable rental income.
- Proximity to major commercial hubs: Near office towers, restaurants, and cultural attractions, increasing property values.
Conclusion
The sale of 406 West 39th Street underscores Bob Knakal’s expertise in navigating complex transactions and maximizing value for property owners. By leveraging market insights and strategic outreach, Bob and his team facilitated a successful transaction, securing strong terms and an optimal outcome.
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