.avif)
Successful Sale of 415 East 57th Street in Midtown East, Manhattan
Bob Knakal and his team successfully closed the sale of 415 East 57th Street, a 5-unit multifamily elevator building located in the heart of Midtown East. The classic pre-war asset sold for $7,783,500, reflecting a price of $2,432.34 per square foot across 3,200 square feet of built space.
With its rare combination of architectural charm and elevator access in a boutique building, the property stood out as a valuable investment in one of Manhattan’s most stable rental markets.
Elevator Building Sales - For the complete list click here Elevator Buildings
Sale Details
The property went under contract and closed on July 15, 1992.
Bob’s strategic positioning of the asset emphasized its elevator feature, five-unit layout, and pre-war charm—factors that drove interest and enabled a clean, efficient transaction.
- Sale Price: $7,783,500
- Asset Type: Multifamily – Elevator
- Number of Units: 5
- Square Footage: 3,200 SF
- Price per SF: $2,432.34
- Sale Date: July 15, 1992
- Property Address: 415 East 57th Street, New York, NY 10022
Property Details
Situated on a quiet residential block, 415 East 57th Street is a boutique pre-war elevator building offering five full-floor apartments. The asset's combination of privacy, elevator access, and prime Midtown East location made it a compelling opportunity for investors seeking long-term stability in Manhattan’s multifamily market.
- Building Class: Multifamily – Elevator
- Lot Size: Not specified
- Stories: Not specified
- Units: 5
- Total SF: 3,200
- Block/Lot: 1369 / 107
Market Strategy and Execution
Bob Knakal’s approach focused on highlighting the building’s irreplaceable location and strong in-place income, while appealing to investors looking for long-term appreciation potential. The marketing campaign targeted local and international buyers, emphasizing the scarcity of small, elevator-serviced buildings in Midtown East.
His strategic efforts resulted in a competitive process that secured the ideal buyer and led to a successful outcome.
Neighborhood Overview
Midtown East continues to attract strong investor interest due to its central location and established residential appeal.
Key neighborhood highlights:
- Minutes from Sutton Place, Beekman Place, and the East River Esplanade
- Proximity to United Nations Headquarters, Citigroup Center, and Bloomingdale’s
- Popular with professionals for its quiet blocks and excellent transit access
- Strong rental demand in pre-war elevator buildings
- Sought-after for long-term residential investments
Conclusion
The sale of 415 East 57th Street underscores Bob Knakal’s ability to identify value in smaller-scale assets and execute a targeted strategy for maximum results. By emphasizing the building’s boutique nature, elevator service, and desirable Midtown East location, Bob and his team delivered a smooth transaction and a premium price for the seller.
This transaction reflects Bob Knakal’s consistent commitment to excellence in representing sellers throughout Manhattan’s diverse submarkets.
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
