Gramercy Office Conversion Property at 43-45 East 30th Street Sold for $12,000,000

Sale of 43-45 East 30th Street in Manhattan’s Gramercy Neighborhood

Bob Knakal and his team successfully closed the $12,000,000 sale of 43-45 East 30th Street, a property offering a prime office-to-residential conversion opportunity in the sought-after Gramercy area. The transaction marked a milestone for the seller, who entrusted Bob Knakal to achieve the best possible outcome.

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Sale Details

This prominent Gramercy property was sold on April 23, 2003, for $12 million. The site, consisting of a single building with a total buildable square footage of 54,490, presented an excellent opportunity for conversion, attracting significant interest from potential buyers. Bob Knakal’s market expertise and targeted strategy ensured that the asset received maximum exposure, ultimately resulting in multiple competitive offers and a favorable sale price.

Key Details:

Sale Price: $12,000,000
Seller Type: High-Net-Worth Individual
Asset Class: Conversion, Office
Neighborhood: Gramercy
Building/Lot Size: 54,490 SF
Price Per SF: $220.22
Units: 14

Property Details

The property at 43-45 East 30th Street boasts a prime location in the Gramercy neighborhood, known for its mix of residential charm and accessibility to commercial hubs. This site offered significant potential for redevelopment, catering to the increasing demand for luxury residential units in the area. The sale’s success underscores the importance of strategic marketing and long-term relationship-building with property owners.

Full Address: 43-45 East 30th Street, New York, NY 10016
Zoning: Conversion, Office
Building Stories: Information unavailable
Lot Features: Ideal for office-to-residential redevelopment

Market Strategy and Leverage

Bob Knakal’s approach included:

Comprehensive market analysis to identify high-value conversion opportunities.
Strategic outreach to qualified buyers, ensuring maximum exposure.
Leveraging competitive offers to negotiate the highest possible sale price.

Through these efforts, Bob and his team secured a deal that met the seller’s financial goals and timeline.

Neighborhood Overview

Gramercy stands out as one of Manhattan’s most desirable neighborhoods, offering:

Proximity to Gramercy Park and iconic Manhattan landmarks.
A blend of historic brownstones and modern developments.
Increasing demand for high-end residential conversions.

The property’s location made it an attractive investment opportunity for developers and end-users alike.

Conclusion

The sale of 43-45 East 30th Street demonstrates Bob Knakal’s ability to deliver exceptional results through expert market knowledge, strategic marketing, and unwavering dedication to his clients. By maximizing exposure and leveraging market conditions, Bob and his team secured a favorable outcome for this unique Gramercy property.

Testimonial

“When we wanted to sell our property on 30th Street, we interviewed several brokers. It was clear to us that Bob Knakal was the most passionate about representing us. We felt he would maximize the exposure of our asset and get many offers. He did just that. We couldn’t be happier with the results and we highly recommend Bob and his team.”
– Michael Dupler