Successful Sale of 14 East 52nd Street in Midtown East, Manhattan
Bob Knakal successfully closed the sale of 14 East 52nd Street, a mixed-use, six-story building in Midtown East, Manhattan. The property, owned by Milan Miletic and John Lonzar, was sold for $12,750,000 to Pronovias, a leading wedding and formal dress retailer.
The sale marked a significant milestone for the sellers, who sought Bob’s expertise after years of regular communication. Bob’s strategic approach resulted in a deal that matched their needs and secured the highest possible value for the property.
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Sale Details
The final sale price was $12,750,000, with the transaction representing a competitive $335.53 per square foot. The property, which spans 38,000 square feet across 6 stories, was sold to Pronovias, a user who would occupy the retail space for their business. Bob Knakal’s continued market engagement with the sellers ensured that they received a favorable deal with the right buyer.
- Sale Price: $12,750,000
- Seller: Milan Miletic, John Lonzar
- Buyer: Pronovias
- Seller Type: Retailer
- Property Type: Mixed-Use, Commercial, Conversion, User
- Sale Date: January 3, 2006
- Full Address: 14 East 52nd Street, New York, NY 10022
- Lot Size: 30 x 100
- Stories: 6
- Units: 7
Property Overview
The building at 14 East 52nd Street offered a unique mixed-use conversion opportunity, ideal for retail users. The six-story property was located in the highly desirable Midtown East neighborhood, an area known for its mix of commercial, residential, and retail spaces.
- Prime Location: Midtown East, Manhattan
- Building Size: 38,000 square feet
- Unit Count: 7
- Conversion Opportunity: Ideal for retail use
- Zoning: Mixed-Use
Neighborhood Overview
Midtown East is one of Manhattan’s most sought-after commercial districts, attracting retailers and office tenants alike. Key features of the area include:
- High foot traffic from nearby office buildings and retail hubs
- Proximity to major landmarks like Grand Central Terminal and the Chrysler Building
- Well-connected by public transportation, with easy access to subway lines and buses
Conclusion
The sale of 14 East 52nd Street showcases Bob Knakal’s expertise in finding the perfect buyer for properties with unique characteristics. By leveraging his in-depth market knowledge and fostering strong relationships, Bob was able to secure a highly beneficial deal for Milan Miletic and John Lonzar.
Testimonial
“Bob Knakal called me regularly for many years. When it was time to sell, he was an easy choice. Bob found the perfect buyer for my property, a deep-pocketed user. Bob is the best!”
– Milan Miletic, Il Minestrello Restaurant
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