Successful Sale of 807 Madison Avenue, Upper East Side, Manhattan
Bob Knakal and his team successfully closed the sale of 807 Madison Avenue, a mixed-use building located in Manhattan’s prestigious Upper East Side. The property, consisting of six residential units, was sold for $3,400,000, offering the seller a significant return on their investment.
The sale price of $3,400,000 was the result of Bob’s skillful negotiation and market knowledge. With the property’s prime location on Madison Avenue and its mixed-use nature, Bob’s team was able to secure a competitive offer that met the seller’s goals.
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Sale Details
The property was sold to Robert Libani, a retailer, for $3,400,000 on August 17, 1995. The deal was made even more advantageous due to Bob Knakal's effective communication and strategic insight, which helped in securing favorable terms.
- Sale Price: $3,400,000
- Seller: Anita Cerutti
- Buyer: Robert Libani (Retailer)
- Property Type: Mixed-Use, User
- Sale Date: August 17, 1995
- Units: 6
- Size: 7,310 SF
- Price per SF: $465.12
Property Details
Located in the heart of the Upper East Side, 807 Madison Avenue is a mixed-use building featuring a blend of residential and commercial spaces. The building comprises six units, offering ample space for a variety of uses. The property's prime location in this high-demand neighborhood contributed to the strong interest from potential buyers.
- Full Address: 807 Madison Avenue, New York, NY 10021
- Neighborhood: Upper East Side
- Building Type: Mixed-Use
- Size: 7,310 SF
Client Profile
Anita Cerutti, the seller of the property, had been in contact with Bob Knakal for years. When she decided to sell her property, Bob was the first person she called due to his deep knowledge of the market and his proven track record in securing favorable deals.
Market Strategy and Leverage
Bob’s strategy focused on targeting the right buyers, including those with an interest in mixed-use properties within the Upper East Side, which is known for its attractive residential and commercial spaces. This approach generated substantial interest, and ultimately, the sale was closed at a favorable price.
Neighborhood Overview
- Prime Upper East Side Location: Known for its luxury residential buildings, retail, and dining destinations.
- Proximity to Central Park: Just a short distance from one of New York City’s most iconic landmarks.
- High-Demand Area: Consistently attracts interest from affluent buyers and investors.
- Vibrant Mixed-Use Neighborhood: Offers a perfect blend of residential, retail, and commercial spaces.
Conclusion
The sale of 807 Madison Avenue demonstrates Bob Knakal’s expertise in managing transactions for unique mixed-use properties. By leveraging his extensive market knowledge, Bob was able to secure a top deal for the seller, ensuring the best possible terms for this property in Manhattan’s coveted Upper East Side.
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