Multifamily Walk-Up Property at 239 West 20th Street, Chelsea, Sells for $6,050,000

Successful Sale of 239 West 20th Street, Chelsea, Manhattan

‍Bob Knakal and his team successfully facilitated the sale of 239 West 20th Street, a multifamily walk-up property located in the vibrant Chelsea neighborhood. The property, owned by Extell Development, was sold for $6,050,000 on June 25, 2007. Bob’s meticulous approach and deep market understanding helped secure a competitive price for the property.

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Sale Details

‍The sale price of $6,050,000 was achieved after strategic negotiations with potential buyers. The final transaction resulted in a price per square foot of $620.51, reflecting the strong demand for multifamily properties in Chelsea.

Sale Price: $6,050,000
Seller: Extell Development (Gary Barnett)
Buyer: Real Estate Alternatives Portfolio (Thomas R. Mathes)
Property Type: Multifamily - Walk-Up
Sale Date: June 25, 2007
Units: 24
Building SF: 9,750
Price per SF: $620.51

Property Details

‍239 West 20th Street is a classic walk-up building featuring 24 multifamily units. The property’s 9,750 square feet of space made it an attractive asset for investors in the growing Chelsea area. Its prime location near cultural landmarks and thriving commercial spaces contributed to the competitive sale.

Full Address: 239 West 20th Street, New York, NY 10011
Zoning: Multifamily
Asset Class: Walk-Up Multifamily
Building Size: 9,750 SF
Units: 24

Market Strategy and Approach

‍Bob Knakal leveraged his expertise in the Chelsea market to maximize the sale price of 239 West 20th Street. His understanding of the multifamily market and connections to the right buyers ensured that the property received substantial interest. This strategic approach ultimately led to a successful transaction at the optimal price.

Neighborhood Overview

‍Chelsea is one of Manhattan’s most sought-after neighborhoods, known for its vibrant mix of residential, commercial, and cultural spaces. Key characteristics include:

Close proximity to the High Line park.
An array of art galleries, restaurants, and shops.
Strong demand for multifamily properties.
A mix of historic buildings and modern developments.

Conclusion

‍The sale of 239 West 20th Street highlights Bob Knakal’s commitment to delivering superior outcomes for his clients. His thorough understanding of market dynamics and dedication to negotiation led to a successful sale that met the seller’s goals, securing the best price in a competitive Chelsea real estate market.