Office User Building at 220 East 51st Street, Midtown East, Manhattan Sold for $3,500,000

Successful Sale of 220 East 51st Street, Midtown East, Manhattan

Bob Knakal successfully closed the sale of 220 East 51st Street, a prime office property located in Midtown East, Manhattan. The sale price of $3,500,000 reflects the value of this 21,120 square foot office building, which was purchased by the Representative of Ukraine to the UN.

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Sale Details

Through his deep market knowledge and expert negotiation skills, Bob helped secure a successful transaction for the seller, Consolidado International Bank. The property was sold at a price of $3,500,000, representing an effective price per square foot of $165.72.

• Sale Price: $3,500,000
• Property Type: Office
• Sale Date: July 19, 1995
• Building Size: 21,120 SF
• Price per SF: $165.72

Property Details

The property at 220 East 51st Street is a valuable office building in the heart of Midtown East, a key commercial district in Manhattan. With 21,120 square feet of office space, it was an ideal location for an institutional user, such as the Representative of Ukraine to the UN, who ultimately became the buyer.

• Full Address: 220 East 51st Street, New York, NY 10022
• Property Type: Office, User
• Building Size: 21,120 SF

Market Strategy and Execution

Bob Knakal’s strategy for selling this office property included positioning it for a specialized buyer who could use the space for institutional purposes. With his knowledge of the Midtown East market and a strong network of potential buyers, Bob was able to secure the best deal for both the seller and the buyer.

Neighborhood Overview

Midtown East is known for:

• Its prestigious office buildings housing international organizations, law firms, and major corporations.
• Prime location near Grand Central Terminal, providing easy access to public transportation.
• An active and desirable area for international representation, with proximity to consulates and diplomatic offices.

Conclusion

The sale of 220 East 51st Street showcases Bob Knakal’s ability to secure high-value properties for specialized buyers, effectively matching the property with the Representative of Ukraine to the UN. His in-depth market knowledge and negotiation skills played a crucial role in closing this successful transaction.

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