Office Building Sale at 306-316 East 61st Street in NYC Upper East Side Secures $12.55 Million

Successful Sale of 306-316 East 61st Street in Manhattan’s Upper East Side

Bob Knakal successfully closed the sale of 306-316 East 61st Street, a five-story office building located in Manhattan's prestigious Upper East Side neighborhood. The sale price of $12,550,000 represented an exceptional outcome for the seller, achieved through Bob’s expert negotiation and deep market knowledge.

Office Building Sales - For the complete list click here Office Buildings

Sale Details

The office building at 306-316 East 61st Street, spanning 58,340 square feet, was sold for $12.55 million on May 11, 2001. The property offered prime redevelopment potential due to its spacious layout and desirable location near luxury retail and residential amenities. Bob’s strategic approach helped secure an optimal sale price, reflecting his ability to generate market leverage and position properties effectively.

Sale Price: $12,550,000
Property Type: Office Building
Neighborhood: Upper East Side, Manhattan
Zoning: Office Use
Building Size: 58,340 SF
Price per SF: $215.12

Property Characteristics

306-316 East 61st Street features five stories with 58,340 square feet of office space, making it a prime asset in a competitive real estate market. Its central location in the Upper East Side provides accessibility to key commercial hubs and transportation networks, increasing its value as a sought-after property for businesses and investors.

Neighborhood Overview

The Upper East Side is one of Manhattan’s most coveted neighborhoods, known for its combination of residential luxury and commercial activity:

Proximity to Central Park and the East River Greenway.
Easy access to the Lexington Avenue Subway and major transportation routes.
Thriving business environment with a mix of professional offices and upscale retail.
Prestigious appeal, attracting investors seeking long-term value in Manhattan’s market.

Strategic Market Approach

Bob Knakal’s success in selling 306-316 East 61st Street highlights his proven strategies:

Consistent Communication: Regular updates and neighborhood insights kept the seller informed about market opportunities.
Market Leverage: Bob explored alternate buyers to drive competitive offers and secure the best terms.
Expert Negotiation: Through persistence and strategic positioning, Bob achieved a significantly higher price than initially expected.

Conclusion

The $12.55 million sale of 306-316 East 61st Street underscores Bob Knakal’s ability to navigate Manhattan’s competitive office market with precision. His commitment to building long-term client relationships and delivering tailored strategies ensured the highest possible outcome for this sale.

Testimonial

“Bob Knakal did an outstanding job for me on this sale. For many years, Bob called me regularly with market information as well as updates about what was happening in my neighborhood. He was relentless, but polite, in his pursuit of me. I felt he would behave the same way while working for a buyer – he didn’t let me down. I have no doubt I received the highest possible price.”
– Peter Bernholz, Bernholz & Associates