Successful Sale of 33-35 East 74th Street in Upper East Side, Manhattan
Bob Knakal and his team successfully closed the sale of 33-35 East 74th Street, a mixed-use building with user potential, owned by Luigina Zorniotti. The sale price was $3,375,000, marking an important milestone for the client.
The property, which featured seven units and a total square footage of 16,500, caught the attention of the Whitney Museum of American Art, a non-profit organization, leading to the successful transaction. The sale reflects Bob’s expertise in negotiating favorable terms for his clients, ensuring the best possible outcome.
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Sale Details
The sale price was set at $3,375,000, which was a fair market value for the property, considering the competitive Upper East Side market and the unique characteristics of the building. Bob Knakal’s strategic guidance helped improve the initial offer by ensuring all parties understood the true potential of the asset.
- Sale Price: $3,375,000
- Property Address: 33-35 East 74th Street, New York, NY 10021
- Seller: Luigina Zorniotti
- Buyer: Whitney Museum of American Art (Non-Profit)
- Property Type: Mixed-Use, User
- Sale Date: August 6, 1994
- Building Size: 16,500 SF
- Price per SF: $204.55
- Units: 7
Property Details
The property at 33-35 East 74th Street is a mixed-use building with retail and residential units, offering potential for both personal and commercial use. Its location in the prestigious Upper East Side neighborhood makes it an attractive asset for a wide range of buyers. With a spacious 16,500 square feet, the building is perfectly suited for a user looking for both residential and commercial space, creating a unique opportunity for the buyer.
Market Strategy and Leverage
Bob’s strategic approach involved showcasing the building’s versatility as a mixed-use asset, highlighting the opportunity for a non-profit organization like the Whitney Museum of American Art to acquire a prime piece of real estate. Through consistent communication and in-depth market knowledge, Bob ensured that the terms aligned with the property’s value, resulting in a smooth and successful transaction.
Neighborhood Overview
Upper East Side, Manhattan is a well-established, highly sought-after area known for its cultural institutions and affluent residents. Key features include:
- Proximity to Central Park and world-class museums
- Upscale residential areas and commercial spaces
- Strong demand for mixed-use buildings and retail spaces
- Access to high-end shopping, dining, and entertainment
Conclusion
The sale of 33-35 East 74th Street is a prime example of Bob Knakal’s ability to leverage market knowledge and strategic thinking to maximize value for his clients. By positioning the property to highlight its mixed-use potential, Bob secured an impressive deal that met both the seller's needs and the buyer’s expectations.
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