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Successful Sale of 166-170 East 70th Street in the Upper East Side, Manhattan
Bob Knakal successfully closed the sale of 166-170 East 70th Street, a 15,660-square-foot school building located in Manhattan’s Upper East Side. The Birch Wathen Lenox School sold the property to the New York School of Interior Design for $3,904,500—equating to $249.33 per square foot. Bob’s tailored approach and understanding of the education sector enabled a smooth transfer between the two institutions.
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Sale Details
Bob Knakal’s strategic positioning of the property emphasized its suitability for institutional use, facilitating a successful outcome for both buyer and seller.
- Sale Price: $3,904,500
- Property Type: School, User
- Sale Date: August 26, 1993
- Building Size: 15,660 SF
- Price per SF: $249.33
Property Details
Situated on the prestigious Upper East Side, 166-170 East 70th Street is a classic institutional building with a stately façade and expansive interior spaces. The property’s layout was ideal for educational purposes, making it a seamless fit for the New York School of Interior Design’s growing needs.
- Full Address: 166-170 East 70th Street, New York, NY 10021
- Property Type: School, User
- Building Size: 15,660 SF
The Client: A School Seeking a Strategic Sale
The Birch Wathen Lenox School sought to divest 166-170 East 70th Street as part of a broader strategic shift. With Bob Knakal’s guidance, the school successfully navigated the complex sale process, connecting with the New York School of Interior Design—an institution that recognized the property’s potential as an educational hub.
Bob’s market expertise and strategic outreach helped align the property’s value with the buyer’s specific requirements, ensuring a mutually beneficial transaction.
Market Strategy and Institutional Focus
Bob’s approach targeted educational institutions and other user-buyers seeking purpose-built spaces in Manhattan’s Upper East Side. His outreach to organizations with expansion needs led to a focused negotiation with the New York School of Interior Design, facilitating a swift and favorable closing.
Neighborhood Overview
The Upper East Side is known for:
- Renowned cultural and educational institutions.
- Elegant townhouses and pre-war buildings.
- Convenient access to Central Park and Museum Mile.
- A prestigious address for institutional and residential uses.
Conclusion
The sale of 166-170 East 70th Street highlights Bob Knakal’s ability to deliver strategic outcomes for institutional clients. His expertise in matching user-buyers with specialty properties led to a seamless transfer, securing a new educational facility for the New York School of Interior Design while achieving the seller’s objectives.
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