Mixed-Use Building at 33-35 West 46th Street, Midtown West Sells for $11M

Successful Sale of 33-35 West 46th Street in Midtown West, Manhattan

Bob Knakal and his team successfully closed the sale of 33-35 West 46th Street, a commercial property with office and retail components located in the heart of Midtown West. The sale price was $11,000,000, marking a significant transaction in the commercial real estate market.

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Sale Details

The property at 33-35 West 46th Street was sold for $11 million, with a total of 34,552 square feet of space. The buyer, a foreign investor, was secured through Bob's extensive network and his strategic market approach. The sale price of $318.36 per square foot reflects the property's strong market appeal and competitive pricing in a high-demand area.

Sale Price: $11,000,000
Seller: Gary Barnett, Extell Development
Buyer: Charles Weiss
Property Type: Commercial, Office, Retail
Sale Date: December 1, 2009
Neighborhood: Midtown West, Manhattan
Lot Size: N/A
Building Size: 34,552 SF
Price per SF: $318.36

Property Details

‍The property at 33-35 West 46th Street, located in the bustling Midtown West neighborhood, is a commercial mixed-use building with both office and retail spaces. The building's prime location, within walking distance of major transit hubs and Manhattan's renowned landmarks, made it an attractive investment for buyers seeking long-term value.

Full Address: 33-35 West 46th Street, New York, NY 10036
Zoning: Commercial, Office, Retail
Building Size: 34,552 SF
Price: $11,000,000

‍Market Strategy and Leverage

‍Bob Knakal’s team strategically marketed the property to a broad range of investors and targeted international buyers who were seeking opportunities in New York City’s commercial market. His efforts were rewarded when a foreign investor expressed interest, leading to a successful deal. The property's prime Midtown West location and versatility in use played a key role in attracting interest from various potential buyers.

‍Neighborhood Overview

‍Midtown West offers a range of advantages for developers and investors, including:

Proximity to Major Landmarks: Walking distance to Times Square, Bryant Park, and the Empire State Building.
Transportation Hub: Close to Grand Central Terminal and Penn Station, offering easy access to the subway and commuter rail lines.
Vibrant Commercial Area: Home to numerous office buildings, retail outlets, and entertainment venues.
High Demand for Commercial Properties: Midtown West continues to see significant interest from developers and foreign investors due to its central location and economic opportunities.

Conclusion

‍The successful sale of 33-35 West 46th Street exemplifies Bob Knakal’s ability to leverage market knowledge, build strong relationships, and deliver optimal outcomes for his clients. Through his strategic approach, Bob helped Extell Development secure a deal that exceeded expectations and matched the seller’s goals.

‍Testimonial

‍“When it was time to sell this asset, we suspected that a foreign buyer might be a good prospect for us. Bob Knakal and his team found us that foreign buyer. We can't say enough good things about Bob, Hags, and their team. They would run through a brick wall to make sure they did the best job possible. We are thrilled with the results they achieved for us.”
– Dov Hertz, Extell Development