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Successful Sale of 204-206 East 39th Street in Midtown East, Manhattan
Bob Knakal successfully arranged the sale of 204-206 East 39th Street, a boutique commercial building in Midtown East, Manhattan. The property, which spans 6,578 square feet, sold for $3,300,000—equating to an impressive $501.67 per square foot.
This sale was unique in that the buyer was the Kingdom of Lesotho, a foreign government in search of a permanent location in New York City. The building’s layout, location, and scale made it an ideal fit for diplomatic use. Bob’s ability to align niche user demand with available inventory resulted in a highly successful outcome for all parties involved.
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Sale Details
Bob Knakal’s strategic positioning of the property focused on its potential as a full-building headquarters or mission site. The seller, Horsehead Properties, was seeking a buyer who would appreciate the building’s strong Midtown East location and could execute swiftly.
Sale Price: $3,300,000
Sale Date: June 12, 1989
Asset Class: Office / User
Square Footage: 6,578
Price per SF: $501.67
Property Type: Office Building
Borough: Manhattan
Neighborhood: Midtown East
Property Overview
204-206 East 39th Street is a well-maintained commercial building offering full-floor control and discreet street presence—key criteria for diplomatic missions or professional firms. The property's dimensions, location, and zoning made it attractive to international users looking to establish a foothold in New York.
Property highlights included:
- Full-building control ideal for embassy or mission use
- Located near Second Avenue, close to UN-related institutions
- Efficient floor plates for office or consular operations
- Rare user-oriented opportunity in Midtown East
Strategic Approach
Recognizing the building's potential for foreign government or institutional use, Bob Knakal directed outreach toward consulates, international agencies, and foreign missions. The targeted strategy led to successful engagement from the Kingdom of Lesotho, whose representatives saw strategic and operational value in the location.
Neighborhood Overview
Midtown East remains one of New York City’s most diplomatic and institution-friendly areas, featuring:
- Proximity to the United Nations Headquarters
- Access to Grand Central Terminal and major transit lines
- A mix of embassies, consulates, and NGO offices
- Strong demand from international and nonprofit users
Conclusion
The sale of 204-206 East 39th Street is a standout example of Bob Knakal’s market insight and ability to serve both institutional and user-driven buyers. By understanding the specialized needs of diplomatic users, Bob successfully navigated a highly focused transaction and delivered a landmark result.
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