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Successful Sale of 21 East 67th Street in the Upper East Side, Manhattan
Bob Knakal and his team successfully closed the sale of 21 East 67th Street, a prestigious commercial townhouse in Manhattan’s Upper East Side. The property, known for its elegant architecture and prime location, was acquired by Colnaghi USA LTD, a well-known art dealer.
The transaction, which closed on August 20, 1987, resulted in a sale price of $4,746,160, reflecting a price per square foot of $643.98. The sale underscored the high demand for historically significant buildings in one of Manhattan’s most sought-after neighborhoods.
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Sale Details
The sale of 21 East 67th Street was a notable transaction in the Upper East Side’s commercial real estate market. Bob Knakal’s expertise played a crucial role in positioning the property as a rare investment opportunity, ultimately securing strong market interest.
- Sale Price: $4,746,160
- Property Type: Commercial, User
- Sale Date: August 20, 1987
- Square Footage: 7,370 SF
- Price per SF: $643.98
- Stories: Multi-story townhouse
Property Details
Situated in the heart of the Upper East Side, 21 East 67th Street is a distinguished commercial townhouse offering a blend of architectural charm and functional space. The property’s prime location, just steps from Madison Avenue’s luxury retail corridor, made it an attractive acquisition for Colnaghi USA LTD.
- Full Address: 21 East 67th Street, New York, NY 10065
- Neighborhood: Upper East Side
- Asset Class: Commercial, User
- Lot Information: Single-building lot
Market Strategy and Competitive Positioning
Bob Knakal’s strategic approach to marketing the property ensured strong engagement from high-profile buyers in the commercial and art sectors. The property’s proximity to prestigious galleries, cultural institutions, and luxury retailers added to its desirability, ultimately leading to a competitive bidding process.
Neighborhood Overview
The Upper East Side remains one of Manhattan’s most coveted locations, offering:
- Cultural Landmarks: Close to The Met, Frick Collection, and other world-class museums.
- Luxury Retail: Steps from Madison Avenue, home to top designer boutiques.
- Historic Appeal: Known for its architecturally significant townhouses and buildings.
- Strong Demand: High interest from investors and users seeking prime commercial space.
Conclusion
The sale of 21 East 67th Street highlights Bob Knakal’s ability to maximize value for clients through strategic positioning and market expertise. By leveraging the property’s unique characteristics and its prime Upper East Side location, Bob secured an exceptional outcome for the seller, achieving a premium price in a competitive market.
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