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Successful Sale of 30-32 West 56th Street in Midtown West, Manhattan
Bob Knakal successfully closed the sale of 30-32 West 56th Street, a 24,600-square-foot mixed-use building located in the heart of Midtown West. The property was sold by Zingarella Realty Corp., represented by Salvatore Salta, to Aeffe USA Inc., a major player in the fashion industry, for $3,800,000—equating to $154.47 per square foot. Bob’s market insight and ability to align the needs of both parties led to a seamless transaction.
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Sale Details
Bob Knakal’s tailored marketing strategy highlighted the property’s value as a flexible office and retail space, leading to a successful sale.
- Sale Price: $3,800,000
- Property Type: Office, Retail, User
- Sale Date: August 11, 1994
- Building Size: 24,600 SF
- Price per SF: $154.47
Property Details
Located in the dynamic Midtown West neighborhood, 30-32 West 56th Street offers a versatile layout suited for office and retail use. The property’s location near Fifth Avenue makes it a prime asset for businesses looking to establish a strong presence in Manhattan.
- Full Address: 30-32 West 56th Street, New York, NY 10019
- Property Type: Office, Retail, User
- Building Size: 24,600 SF
The Client: A Fashion Retailer Seeking the Right Buyer
Zingarella Realty Corp., led by Salvatore Salta, sought to divest the property as part of a business transition. Bob Knakal’s focused outreach targeted user-buyers in the fashion and retail sectors, ultimately connecting with Aeffe USA Inc., a global fashion powerhouse seeking an iconic Manhattan location.
Bob’s ability to identify and engage the right buyers ensured a smooth negotiation process, resulting in a successful transaction that met the seller’s objectives.
Market Strategy and Buyer Alignment
Bob Knakal’s deep understanding of the Midtown West market allowed him to position 30-32 West 56th Street as a rare opportunity for user-buyers. His outreach to the fashion industry, known for its need for showroom and office space, was instrumental in identifying Aeffe USA Inc. as the ideal buyer.
Neighborhood Overview
Midtown West is characterized by:
- Proximity to luxury shopping along Fifth Avenue.
- High foot traffic and premier retail opportunities.
- Access to major transportation hubs, including Columbus Circle.
- A vibrant business and cultural district.
Conclusion
The sale of 30-32 West 56th Street underscores Bob Knakal’s ability to deliver results through strategic marketing and expert negotiation. By understanding the unique requirements of both seller and buyer, Bob successfully facilitated a transaction that reinforced his reputation as a market leader in Manhattan’s commercial real estate sector.
Testimonial
“Bob Knakal knows this neighborhood better than anyone. He found the perfect buyer for us. Bob, you are the best!”
– Sal and Romeo Salta
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