Second Sale of 36 East 61st Street on Manhattan’s Upper East Side
Bob Knakal and his team successfully facilitated the sale of 36 East 61st Street, an office building located in one of Manhattan’s most prestigious neighborhoods. The transaction, which marked the second time this property was sold under Bob’s leadership, closed at $6.7 million.
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Sale Details
The deal was finalized on June 16, 1993, after strategic positioning in the market resulted in strong interest. The final sale price was $6.7 million, with a price per square foot of approximately $595.56, reflecting the property’s prime location and strong demand in the area.
- Sale Price: $6,700,000
- Property Type: Office Building
- Sale Date: June 16, 1993
- Square Footage: 11,250 SF
- Price per SF: $595.56
Property Details
Situated in the Upper East Side, 36 East 61st Street is an 11,250-square-foot office building that stands as a prime asset in one of Manhattan’s most sought-after business corridors. The property’s location provided immediate access to a high-end retail and commercial environment, making it highly attractive to investors.
- Full Address: 36 East 61st Street, New York, NY 10065
- Asset Class: Office
- Stories: Multiple floors with premium office space
- Building Type: Office Building
Strategic Market Positioning
Bob Knakal’s deep market knowledge and consistent outreach efforts played a critical role in securing an optimal outcome for the seller. The team identified strong demand for well-located office buildings in the Upper East Side, ensuring the property was positioned effectively to attract serious buyers.
Neighborhood Overview
- Prestigious Location: The Upper East Side is known for its high-end retail and office spaces.
- Proximity to Key Landmarks: Close to Central Park, Madison Avenue, and luxury shopping destinations.
- Strong Market Demand: Consistently competitive for office buildings due to limited supply and high investor interest.
Conclusion
The successful sale of 36 East 61st Street for the second time demonstrates Bob Knakal’s expertise in maximizing value for clients. His strategic approach, market insights, and ability to secure strong offers ensured a successful outcome, reinforcing the Upper East Side’s position as a premier real estate market.
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