Successful Sale of 309 East 52nd Street in Midtown East, Manhattan
Bob Knakal and his team successfully arranged the sale of 309 East 52nd Street, a four-unit walk-up building in the heart of Midtown East. The transaction, which closed on August 26, 2004, for $2,900,000, highlighted Bob’s ability to leverage market dynamics to secure the best possible outcome.
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Sale Details
Located in Midtown East, 309 East 52nd Street attracted strong interest from buyers due to its prime location and potential for long-term value. The four-unit property, totaling 5,156 square feet, was sold at $562.45 per square foot. Bob Knakal’s deep understanding of the local market played a key role in the successful execution of the sale.
- Sale Price: $2,900,000
- Asset Class: Multifamily - Walk-Up
- Stories: 4
- Total Building Size: 5,156 SF
- Price per SF: $562.45
- Units: 4
- Date Closed: August 26, 2004
- Neighborhood: Midtown East, Manhattan
Property Overview
309 East 52nd Street is a well-maintained walk-up building, offering four residential units in a sought-after location. With its proximity to Midtown’s commercial core and access to key transit hubs, the property was a strong candidate for investors seeking stable rental income and potential appreciation.
- Full Address: 309 East 52nd Street, New York, NY 10022
- Building Type: Walk-Up, Multifamily
- Neighborhood: Midtown East
- Total Square Footage: 5,156 SF
- Number of Units: 4
Market Strategy and Leverage
Bob Knakal’s approach to marketing the property focused on reaching investors actively seeking walk-up multifamily assets in Manhattan. By emphasizing the property’s location, income potential, and favorable market conditions, Bob generated strong interest, ensuring a smooth and efficient sale process.
Neighborhood Overview
Midtown East is a prime location with:
- Proximity to major business districts and corporate headquarters.
- Easy access to transportation hubs, including Grand Central Terminal.
- A mix of residential, office, and retail developments, making it a vibrant and high-demand area.
- Strong rental demand due to its accessibility and amenities.
Conclusion
The sale of 309 East 52nd Street underscores Bob Knakal’s ability to navigate the Midtown East multifamily market, securing optimal results for property owners. His strategic approach, market expertise, and strong buyer network played a crucial role in maximizing value for this transaction.
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