Multifamily Elevator Buildings Sold for $30 Million at 201-205 & 207-209 West 11th Street in West Village, Manhattan

Successful Sale of 201-205 & 207-209 West 11th Street in West Village, Manhattan

Bob Knakal and his team successfully facilitated the sale of two multifamily elevator buildings located at 201-205 & 207-209 West 11th Street in the heart of Manhattan’s West Village. The transaction closed on September 2, 2005, for $30 million, marking a significant achievement for both the seller and the buyer.

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Sale Details

The two buildings, located in the historic and vibrant West Village neighborhood, were sold for a combined price of $30,000,000. These properties, offering a total of 67 units and spanning 38,478 square feet, fetched an impressive $779.67 per square foot.

Bob Knakal’s strategic approach and long-standing expertise in the Manhattan market played a pivotal role in ensuring the seller achieved optimal terms. His team’s efforts included leveraging local market knowledge and targeting high-net-worth buyers to secure the best possible outcome for the transaction.

Key Transaction Details:

Sale Price: $30,000,000
Asset Class: Multifamily – Elevator Buildings
Units: 67
Total SF: 38,478
Price per SF: $779.67
Sale Date: September 2, 2005
Neighborhood: West Village, Manhattan

Property Overview

The properties at 201-205 & 207-209 West 11th Street are notable for their historic charm and exceptional location in one of Manhattan’s most desirable neighborhoods. These multifamily elevator buildings offered significant investment potential due to their prime positioning and the strong rental market in the West Village.

The two properties were situated on a combined lot size and included a total of 67 residential units, providing stable cash flow opportunities for the buyer. Additionally, their proximity to local attractions and transit hubs made them highly sought after by both investors and residents.

Full Address: 201-205 & 207-209 West 11th Street, New York, NY
Asset Class: Multifamily Elevator Buildings

Market Strategy and Results

Bob Knakal’s market strategy focused on highlighting the properties’ strong rental income potential, coupled with their historic charm and strategic location. By emphasizing these unique selling points, Bob and his team were able to attract significant interest from a range of qualified buyers.

The team’s approach involved:

Conducting detailed market research to establish competitive pricing.
Reaching out to high-net-worth individuals and established investment firms.
Leveraging the properties’ potential for long-term value appreciation to secure competitive offers.

This strategy resulted in a swift transaction with terms that exceeded the seller’s initial expectations.

Neighborhood Overview

The West Village is one of Manhattan’s most sought-after neighborhoods, known for its:

Historic Charm: Featuring cobblestone streets, tree-lined avenues, and landmarked brownstones.
Cultural Appeal: Home to renowned dining establishments, boutique shops, and art galleries.
Prime Location: Easy access to downtown Manhattan, the Hudson River Greenway, and multiple subway lines.
Vibrant Community: A mix of young professionals, artists, and long-term residents, contributing to a unique and dynamic atmosphere.

Conclusion

The sale of 201-205 & 207-209 West 11th Street highlights Bob Knakal’s ability to deliver exceptional results for clients by leveraging his extensive market expertise and a relationship-driven approach. This transaction underscores his dedication to achieving the best outcomes for sellers in Manhattan’s competitive real estate market.