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Successful Sale of 118 West 13th Street in Greenwich Village, Manhattan
Bob Knakal and his team successfully closed the sale of 118 West 13th Street, a seven-story development site with a full basement in the heart of Greenwich Village. The property, formerly a residence hall for The New School, sold for $22,864,400. Bob’s comprehensive marketing strategy and deep market knowledge attracted substantial interest, resulting in over 40 offers and a competitive sale process.
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Sale Details
The 33,975-square-foot property offered a unique development opportunity in one of Manhattan’s most sought-after residential neighborhoods. Bob Knakal’s proactive marketing approach, including extensive property tours and strategic outreach, ensured a successful transaction for the non-profit seller.
- Sale Price: $22,864,400
- Property Type: Residential Development
- Sale Date: September 10, 2021
- Building Size: 33,975 SF
- Price per SF: $672.98
- Lot Size: 6,453 SF
- Stories: 7 + Full Basement
Property Details
Located at 118 West 13th Street, this seven-story building with a full basement provided a rare opportunity for redevelopment in Greenwich Village. The property’s prime location and flexible zoning made it highly attractive to investors and developers looking to capitalize on the neighborhood’s enduring appeal.
- Full Address: 118 West 13th Street, New York, NY 10011
- Property Type: Development Site
- Stories: 7 + Full Basement
- Lot Size: 6,453 SF
- Building Size: 33,975 SF
The Client: A Non-Profit Seeking Market Expertise
The New School, a private university with a long-standing presence in Greenwich Village, turned to Bob Knakal’s team to handle the sale of their former residence hall. The sale required a nuanced approach due to the property’s size, location, and the institution’s need for a smooth and transparent process.
Bob’s strategic planning and extensive marketing efforts generated 224 property inspections and over 40 competitive offers, ensuring the client had a comprehensive view of market demand before finalizing the sale.
Market Strategy and Competitive Positioning
Bob Knakal and his team implemented a targeted marketing strategy, focusing on developers seeking high-value opportunities in Greenwich Village. Through direct outreach, property tours, and competitive positioning, the team attracted a large pool of qualified buyers, maximizing both visibility and value.
Neighborhood Overview
Greenwich Village is known for:
- Historic charm and tree-lined streets.
- Proximity to Washington Square Park and New York University.
- A mix of pre-war buildings and modern luxury developments.
- High demand for residential and mixed-use properties.
Conclusion
The sale of 118 West 13th Street underscores Bob Knakal’s ability to deliver exceptional results through a combination of strategic marketing and extensive market knowledge. By facilitating a competitive bidding environment and providing comprehensive support, Bob and his team secured the best possible outcome for The New School.
Testimonial
“The New School has turned to Bob Knakal and his team for a number of transactions over the past several years. When we decided to sell our former residence hall located on West 13th Street, we believed his team would be a great fit for our needs, given the significant interest this prime location would attract. We were very pleased with the marketing and support throughout the process, which included 224 property inspections and over 40 offers. We highly recommend Bob and his team to anyone looking to sell a property in New York City.”
– Howard Bressler, The New School
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