Successful Sale of 718 Madison Avenue in the Upper East Side
Bob Knakal and his team successfully completed the sale of 718 Madison Avenue, a high-end mixed-use property in the heart of the Upper East Side. The sale, which closed on December 2, 1994, was valued at $4,800,000 and marked the second time Bob’s team facilitated a transaction for this property.
With its prime location along Madison Avenue, known for its luxury retail presence, the property attracted strong interest from buyers seeking a foothold in one of New York City’s most prestigious shopping corridors. Bob’s market knowledge and strategic approach helped secure a favorable deal for the seller.
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Sale Details
Situated in the Upper East Side’s sought-after retail district, 718 Madison Avenue presented a unique opportunity for retailers and investors. The property featured a well-maintained mixed-use structure spanning 4,480 square feet, with two units ideal for commercial and retail use.
Bob Knakal’s deep understanding of the Madison Avenue market allowed him to position the property effectively, leading to a successful transaction at $1,071.43 per square foot. His expertise ensured a seamless sale process, maximizing value for the client.
- Sale Price: $4,800,000
- Property Type: Mixed-Use, User
- Sale Date: December 2, 1994
- Square Footage: 4,480 SF
- Price Per SF: $1,071.43
- Stories: 1
- Units: 2
Prime Retail Property on Madison Avenue
718 Madison Avenue stands in one of Manhattan’s most exclusive retail corridors, home to world-renowned luxury brands and high-end retailers. The property’s strategic location made it a highly desirable asset for buyers looking to capitalize on the area’s strong commercial demand.
Bob’s familiarity with Madison Avenue’s retail dynamics and his established network of buyers enabled him to identify the right purchaser quickly. His proactive approach and ability to highlight the property’s key attributes played a crucial role in securing a successful outcome.
Market Strategy and Competitive Positioning
Bob Knakal’s approach to the sale of 718 Madison Avenue involved leveraging the property’s premium location and targeting high-profile retail buyers. His strategy focused on:
- Identifying retailers seeking flagship locations on Madison Avenue.
- Positioning the property as a rare mixed-use opportunity in a high-demand market.
- Showcasing the long-term value of investing in a premier Upper East Side asset.
By emphasizing the property’s potential for strong retail performance, Bob was able to generate interest from top-tier buyers, resulting in a well-executed transaction.
Neighborhood Overview
- Madison Avenue Corridor: A globally recognized destination for luxury shopping.
- Upper East Side Prestige: One of Manhattan’s most desirable residential and commercial districts.
- Retail Demand: Consistently high demand from international brands seeking flagship spaces.
- Investment Appeal: Properties in this area are known for their strong long-term value and stability.
Conclusion
The successful sale of 718 Madison Avenue showcases Bob Knakal’s expertise in Manhattan’s luxury retail market. His ability to strategically position properties and negotiate favorable terms has made him a trusted advisor in high-value transactions.
By securing a competitive price and facilitating a smooth deal, Bob once again demonstrated his market insight and commitment to achieving the best outcomes for his clients.
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