Multifamily Walk-Up Building in Harlem Sells for $2,650,000 at 206 East 124th Street

Successful Sale of 206 East 124th Street in Harlem

Bob Knakal and his team successfully closed the sale of 206 East 124th Street, a 15-unit multifamily walk-up building located in Harlem, for $2,650,000. The property had an impressive 10,466 square feet of space, with each unit offering tenants a comfortable and affordable living environment in a rapidly evolving neighborhood.

The sale marks a significant achievement for the seller, the Association to Benefit Children, and highlights Bob’s strategic approach in securing the best possible deal for the client. His team’s persistent communication and market expertise helped drive the deal to closure at a favorable price.

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Sale Details

The final sale price of $2,650,000 reflected Bob's ability to secure an optimal deal for the seller, particularly in a competitive Harlem market. The deal was closed with favorable terms that were aligned with the seller’s objectives. Bob’s professional guidance ensured a smooth and profitable transaction for all parties involved.

Sale Price: $2,650,000
Seller: Association to Benefit Children
Buyer: Haroutiun Derderian
Property Type: Multifamily Walk-Up
Sale Date: July 24, 2006
Building Size: 10,466 SF
Price per SF: $253.20

Property Details

Located in the heart of Harlem, 206 East 124th Street is a well-maintained, 15-unit walk-up building that provides quality housing options in a neighborhood that has seen significant development over recent years. The property features:

15 residential units
Building size: 10,466 square feet
Located in a rapidly evolving area of Harlem, Northern Manhattan

The building offered a unique investment opportunity, and Bob's strategic insights helped maximize the sale price by targeting the right buyer who could capitalize on the property’s potential.

Neighborhood Overview

Harlem is one of Northern Manhattan’s most iconic neighborhoods, attracting a wide range of interest from investors, developers, and residents alike. The area has experienced significant growth and revitalization, with several key characteristics driving its popularity:

Cultural Hub: Known for its rich history, including a vibrant arts scene.
Transport Access: Well-served by public transportation, making it easily accessible to other parts of the city.
Community: Home to a diverse and growing population.
Real Estate Potential: With ongoing development, Harlem is an increasingly desirable location for multifamily properties.

Conclusion

The sale of 206 East 124th Street exemplifies Bob Knakal’s ability to deliver results for his clients through deep market knowledge, strategic negotiation, and consistent communication. His proactive approach to fostering relationships and staying informed on market trends ensured the best possible outcome for the Association to Benefit Children, enabling them to sell at a price that met their objectives.