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Successful Sale of 4 East 39th Street, Midtown East, Manhattan
Bob Knakal successfully facilitated the sale of 4 East 39th Street, an office property in the heart of Midtown East, Manhattan. The building, consisting of 10,628 square feet of office space, was sold for $3,450,000 to Berkshire Bank.
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Sale Details
Bob’s market insight and negotiation skills resulted in a sale price of $3,450,000, which equated to $324.61 per square foot. The property was an ideal fit for a user, which was a key factor in Bob's successful positioning of the building for the buyer, Berkshire Bank.
- Sale Price: $3,450,000
- Property Type: Office, User
- Sale Date: April 9, 2001
- Building Size: 10,628 SF
- Price per SF: $324.61
Property Details
Located at 4 East 39th Street in Midtown East, this office property was a prime asset for a user, offering 10,628 square feet of space. The building's location in a highly sought-after commercial district made it an attractive option for Berkshire Bank, which ultimately purchased the property for its use.
- Full Address: 4 East 39th Street, New York, NY 10016
- Property Type: Office, User
- Building Size: 10,628 SF
Market Strategy and Execution
Bob Knakal’s extensive knowledge of the Midtown East market, particularly the user market, allowed him to identify the ideal buyer for this property. With his team, Bob effectively marketed the building, generating interest from several potential users, and ultimately securing Berkshire Bank as the buyer.
Neighborhood Overview
Midtown East is renowned for:
- Prime office locations catering to a range of businesses, from law firms to financial institutions.
- Close proximity to key transportation hubs, such as Grand Central Station, offering easy access to subways and commuter trains.
- Highly desirable business district, attracting both local and international companies.
Conclusion
The sale of 4 East 39th Street is a perfect example of Bob Knakal's expertise in the user market. His deep understanding of Midtown East’s commercial real estate landscape helped secure a successful transaction for both the seller, RFD Holdings, and the buyer, Berkshire Bank.
Testimonial
“We have worked with Bob Knakal for many years on several transactions and he is one of our go-to investment sales brokers. 4 East 39th Street was a perfect building for a user and no one knows the user market in Midtown better than Bob. Bob and his team did a great job for us on this sale.”
– Aby Rosen, RFR Holding LLC
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