Retail Property in Upper East Side Manhattan Sells for $6.65M at 969 Madison Avenue

Successful Sale of 969 Madison Avenue in Upper East Side, Manhattan

Bob Knakal and his team successfully facilitated the sale of 969 Madison Avenue, a retail property in Manhattan's prestigious Upper East Side. The transaction closed on October 17, 1985, for $6,650,000. The sale price reflects Bob's strategic insight and market expertise, securing the best possible outcome for the seller, Jerry Brauser.

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Sale Details

The sale of 969 Madison Avenue occurred in a highly desirable neighborhood, with Bob leveraging his deep understanding of the market to navigate the complexities of the transaction. The retail property featured approximately 23,000 square feet of space, providing an exceptional value for both the seller and the buyer. The sale price of $6,650,000 came to $289.13 per square foot, a solid result in the highly competitive market of the Upper East Side.

Sale Price: $6,650,000
Property Address: 969 Madison Avenue, New York, NY ( Cross Street East 76th Street)
Zoning: Retail
Property Type: Retail
Sale Date: October 17, 1985

Property Details

969 Madison Avenue was a prime retail property located in one of Manhattan's most sought-after neighborhoods. The building's ample square footage of 23,000 square feet made it an attractive option for potential buyers looking for retail space in a high-traffic area. The property’s appeal was further enhanced by its location in the Upper East Side, a neighborhood known for its affluent residents and long-standing commercial appeal.

Building Size: 23,000 square feet
Price per SF: $289.13
Neighborhood: Upper East Side, Manhattan

Market Strategy and Leverage

Bob Knakal’s approach to this sale was strategic and client-focused, utilizing his extensive knowledge of the Upper East Side market to position the property as an ideal retail space. The property's location and size were key factors in generating competitive interest, allowing Bob to secure the best possible sale terms for the seller.

Neighborhood Overview

The Upper East Side is renowned for its:

Affluent residential community
Proximity to Central Park and world-class museums
Prime retail space opportunities
Consistent demand for luxury goods and services
Strong commercial value due to the neighborhood's prestige

Conclusion

The sale of 969 Madison Avenue highlights Bob Knakal's ability to successfully navigate the complexities of retail real estate transactions. By utilizing his market knowledge and consistent communication, Bob achieved a top price for this Upper East Side property, securing a favorable outcome for the seller.

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