Successful Sale of 39 West 56th Street in Midtown West, Manhattan
Bob Knakal and his team closed the sale of 39 West 56th Street, a boutique office building located in Midtown West, Manhattan. The property, comprising eight office units across approximately 12,500 square feet, was sold for $2,800,000.
This sale represented an early demonstration of Bob’s expertise in Manhattan’s commercial real estate market. By navigating a competitive Midtown West landscape and applying a block-specific approach, Bob was able to maximize value and deliver a favorable outcome.
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Sale Details
39 West 56th Street was sold on March 5, 1997, to an investor seeking long-term upside in the Midtown corridor. The building featured eight office units and approximately 12,500 square feet of space, with a price per square foot of $224.
Positioned just off Fifth Avenue and within a prime block of West 56th Street, the property offered both character and investment potential, drawing interest from buyers seeking boutique office product in Midtown.
- Sale Price: $2,800,000
- Sale Date: March 5, 1997
- Property Type: Office
- Property Size: 12,500 SF
- Price per SF: $224
- Units: 8
- Buyer: Dragon Topolovic
- Seller: Cable Building Associates (Harry Chen)
- Address: 39 West 56th Street, New York, NY 10019
Property Details
39 West 56th Street is a mid-block, boutique office building situated on a prime stretch between Fifth and Sixth Avenues. With its classic Manhattan facade and compact floor plates, the building appealed to users and investors alike seeking a manageable office asset in a premier location.
The Client: Seeking a Strategic Exit from a Prime Midtown Asset
The seller, who had owned the building for several years, engaged Bob Knakal to lead the disposition process. At the time, the Midtown office market was gaining momentum, and Bob’s understanding of buyer demand and investor appetite proved instrumental.
Bob implemented a strategy focused on reaching office users, family offices, and long-term investors seeking prime Midtown locations. His outreach and persistent communication helped build competitive tension, ultimately leading to a favorable price and clean terms.
Market Strategy and Execution
Bob Knakal’s approach included direct outreach to known Midtown office investors and a block-by-block canvassing strategy. By presenting 39 West 56th Street not just as an investment, but as a boutique ownership opportunity, he was able to frame the property’s value to targeted buyers.
Neighborhood Overview
Midtown West is one of Manhattan’s most dynamic commercial districts, offering a blend of accessibility, prestige, and proximity to cultural institutions. Highlights include:
- Just steps from Fifth Avenue shopping and hotels
- Near Central Park South and luxury residential towers
- Surrounded by landmarked buildings and renowned restaurants
- Highly accessible via multiple subway lines and major avenues
- Continued demand for boutique office spaces from users and investors
Conclusion
The sale of 39 West 56th Street reflects Bob Knakal’s strategic mindset and ability to execute in the Midtown West office market. His personalized, data-driven approach, combined with his experience on the block, helped secure an optimal result for the client.
This early transaction served as a building block for Bob’s long-standing reputation as a trusted advisor and dealmaker in New York City real estate.
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