Successful Sale in the East Village
Bob Knakal and his team successfully brokered the $9,750,000 sale of 111 St. Marks Place, a mixed-use property located in Manhattan’s vibrant East Village. The transaction marked a significant milestone for the seller, Alistair Economakis of Granite International, as well as the buyer, Goldberg, Weprin, Finkel, Goldstein LLP.
Sale Details
The property, a walk-up mixed-use building, sold on January 7, 2013. Bob Knakal’s expertise in navigating complex transactions ensured the seller, a high-net-worth individual, achieved a strong price of $1,126 per square foot for the 8,658-square-foot asset.
- Sale Price: $9,750,000
- Seller: Alistair Economakis, Granite International
- Buyer: Goldberg, Weprin, Finkel, Goldstein LLP
- Seller Type: High Net Worth (HNW)
- Asset Class: Mixed-Use, Multifamily Walk-Up
- Neighborhood: East Village, Manhattan
- Building Size: 8,658 SF
- Price per SF: $1,126.13
Property Overview
The building at 111 St. Marks Place is situated in the heart of the East Village, a highly desirable Manhattan neighborhood known for its eclectic vibe and strong demand for multifamily and mixed-use properties. The property featured walk-up multifamily units alongside commercial space, making it a compelling investment opportunity.
- Neighborhood: East Village, Manhattan
- Buildings/Lot: 1
- Units: Multifamily and Commercial
Strategic Guidance and Market Expertise
Bob Knakal and his team employed a comprehensive market strategy to attract competitive interest in the property. By leveraging their deep understanding of the East Village market and robust network of investors, they secured the best possible terms for the seller.
Neighborhood Appeal
The East Village has long been one of Manhattan’s most vibrant neighborhoods, offering a mix of cultural hotspots, boutique shops, and dining destinations. Its historic charm and consistent demand for residential and commercial space continue to make it a highly sought-after location for investors.
Conclusion
The sale of 111 St. Marks Place is a testament to Bob Knakal and his team’s ability to deliver exceptional outcomes for clients. With their deep market insights and strategic negotiation skills, they maximized value for the seller and facilitated a seamless transaction for both parties.
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