Successful Sale of 9 East 71st Street in Manhattan’s Upper East Side
Bob Knakal and his team successfully facilitated the sale of 9 East 71st Street, a school property in the prestigious Upper East Side of Manhattan. The sale, which closed on September 11, 1989, achieved an impressive price of $13,200,000. The transaction highlights Bob’s ability to navigate the competitive Upper East Side real estate market, ensuring a favorable outcome for the seller, Birch Wathen School Inc.
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Sale Details
The sale price for 9 East 71st Street was $13,200,000, with an impressive price per square foot of $478.26. This sale was part of Bob Knakal's long-standing reputation for delivering top-tier results in Manhattan’s highly sought-after Upper East Side.
- Sale Price: $13,200,000
- Property Address: 9 East 71st Street, New York, NY 10021
- Asset Class: School, User
- Building Size: 27,600 SF
- Price per SF: $478.26
- Sale Date: September 11, 1989
- Borough: Manhattan
- Neighborhood: Upper East Side
Property Details
The property at 9 East 71st Street consists of a single building, formerly utilized by Birch Wathen School. This 27,600 square foot property is situated in one of Manhattan’s most desirable and affluent neighborhoods, making it an attractive acquisition. The property’s prime location and its potential as a school building made it a unique asset in a market with high demand for educational institutions.
The Client: Birch Wathen School
Birch Wathen School, represented by P.S. Assower, had been a prominent institution in the neighborhood. With Bob Knakal’s expertise, the school was able to capitalize on the high demand for educational properties in Manhattan and achieve an optimal sale price. Bob’s consistent market updates and strategic insights enabled Birch Wathen to make an informed decision, resulting in a sale price well above expectations.
Market Strategy and Leverage
Bob’s strategy involved leveraging the school’s value as a specialized asset in the Upper East Side market. By positioning the property as an ideal location for educational use, Bob was able to attract qualified buyers and secure a sale that reflected the true value of the property. The negotiation process was smooth, with Bob ensuring the seller’s interests were always prioritized, leading to a successful conclusion at $13.2 million.
Neighborhood Overview
- Upper East Side: One of Manhattan’s most prestigious neighborhoods
- Affluent area: Known for its high-end residential properties, cultural institutions, and educational facilities
- Proximity to Central Park: Offering green space for local residents
- Sought-after real estate: Consistently one of the city’s most desirable locations for schools, residential, and mixed-use developments
Conclusion
The sale of 9 East 71st Street exemplifies Bob Knakal’s skill in managing high-profile, specialized real estate transactions. With his deep knowledge of the market and long-standing relationships, Bob was able to achieve a top-dollar sale for Birch Wathen School, ensuring a win for both the seller and the buyer. Bob’s expert guidance continues to set the standard for success in Manhattan real estate.
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