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Successful Sale of 332 East 11th Street in East Village, Manhattan
Bob Knakal successfully arranged the sale of 332 East 11th Street, a 13-unit mixed-use walk-up building located in the vibrant East Village. The property, spanning 9,350 square feet, presented a rare opportunity for investors seeking value in one of Manhattan’s most dynamic neighborhoods.
With a sale price of $2,150,000, the deal reflected strong market demand for well-located multifamily assets in the area. Bob’s expertise in market positioning and negotiation played a key role in securing optimal terms for the seller.
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Sale Details
Positioned in the heart of East Village, 332 East 11th Street offered a prime location for residential and retail tenants alike. The property attracted interest from multiple investors due to its strong unit count and mixed-use potential. Bob Knakal’s deep understanding of market trends allowed for a competitive sale process, ensuring the best possible outcome.
Sale Price: $2,150,000
Property Type: Mixed-Use, Multifamily - Walk-Up
Sale Date: June 18, 2003
Building Size: 9,350 SF
Price per SF: $229.95
Units: 13
Property Details
The 13-unit walk-up at 332 East 11th Street stood as a prime asset in the East Village, known for its vibrant mix of residential, retail, and nightlife options. With a strong rental market and steady demand for multifamily properties, the building’s location and configuration made it a sought-after investment.
Full Address: 332 East 11th Street, New York, NY 10003
Neighborhood: East Village
Property Type: Mixed-Use, Multifamily - Walk-Up
Stories: [Details Not Provided]
Market Strategy and Positioning
Bob Knakal leveraged his extensive network and deep market knowledge to create a competitive bidding environment for the property. By highlighting the building’s location, rental upside, and mixed-use potential, he was able to generate strong investor interest, leading to a successful transaction.
His approach included:
- Targeted marketing to multifamily investors and mixed-use property buyers.
- Showcasing rental potential to attract buyers looking for value-add opportunities.
- Emphasizing the East Village appeal, given the neighborhood’s high tenant demand.
Neighborhood Overview
East Village is one of Manhattan’s most desirable and culturally rich neighborhoods, offering:
- Proximity to major transit options, including subway lines and bus routes.
- Thriving restaurant and nightlife scene, drawing in a steady flow of residents and visitors.
- Strong demand for multifamily properties, making it a prime investment location.
The neighborhood’s walkability and vibrant atmosphere make it a key destination for renters and investors alike.
Conclusion
The sale of 332 East 11th Street exemplifies Bob Knakal’s ability to navigate the competitive East Village market and secure strong results for his clients. By implementing a strategic marketing and negotiation approach, he successfully positioned the property for a seamless and well-executed sale, maximizing value for the seller.
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