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Successful Sale of 10 East 73rd Street in the Upper East Side, Manhattan
Bob Knakal successfully closed the sale of 10 East 73rd Street, an 8,608-square-foot office building located in the prestigious Upper East Side of Manhattan. The property, previously owned by the New York Board of Rabbis, sold for $4,800,000, reflecting a price of $557.62 per square foot. Bob’s deep market knowledge and strategic guidance played a key role in achieving a favorable outcome for the non-profit seller.
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Sale Details
The sale of 10 East 73rd Street highlighted Bob Knakal’s ability to represent non-profit organizations in high-value real estate transactions. His approach delivered a successful sale at competitive market terms.
- Sale Price: $4,800,000
- Property Type: Office
- Sale Date: June 12, 2000
- Building Size: 8,608 SF
- Price per SF: $557.62
Property Details
Situated on a tree-lined block in Manhattan’s Upper East Side, 10 East 73rd Street is a distinguished office building with a classic architectural style. Its prime location near Central Park and Fifth Avenue enhances its appeal to commercial occupants and investors.
- Full Address: 10 East 73rd Street, New York, NY 10021
- Property Type: Office
- Building Size: 8,608 SF
The Client: A Non-Profit Organization Seeking a Strategic Sale
The New York Board of Rabbis, led by Joseph Potasnik, sought to divest 10 East 73rd Street to reallocate resources toward their community initiatives. Bob Knakal’s tailored marketing plan and industry relationships ensured maximum exposure and a successful sale to Premier Properties of Manhattan.
Bob’s strategic outreach included engaging with office users and investors seeking boutique office spaces in Manhattan’s most coveted neighborhoods. This approach resulted in a timely and successful transaction that met the seller’s goals.
Market Strategy and Targeted Outreach
Bob’s market strategy emphasized the building’s unique location and flexible office layout. Targeted outreach to private investors and boutique office operators created competitive interest, leading to an efficient sale process and strong financial results.
Neighborhood Overview
The Upper East Side is known for:
- Proximity to Central Park and Fifth Avenue.
- Prestigious residential and commercial real estate.
- Strong demand for boutique office spaces.
- Access to cultural institutions and luxury retail.
Conclusion
The sale of 10 East 73rd Street underscores Bob Knakal’s ability to deliver successful outcomes for non-profit organizations. His expertise in navigating complex transactions and providing strategic advice resulted in a favorable sale, allowing the New York Board of Rabbis to achieve their financial objectives.
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