Successful Sale of the Boulevard Heights Portfolio in Hamilton Heights, Northern Manhattan
Bob Knakal and his team successfully closed the sale of the Boulevard Heights Portfolio, a multifamily portfolio consisting of four properties in Northern Manhattan. The properties, located at 3489 Broadway, 519 West 143rd Street, 610 West 163rd Street, and 548 West 164th Street, were sold for $45,000,000.
The sale price of $45 million reflects a price per square foot of $185.38, with a total of 242,740 square feet across 205 units. This successful transaction represents Bob’s ability to navigate the complexities of multifamily sales in highly competitive neighborhoods.
Elevator Building Sales - For the complete list click here Elevator Buildings
Sale Details
The Boulevard Heights Portfolio included a mix of elevator and walk-up multifamily buildings, making it an attractive investment in Hamilton Heights. Bob’s strategic guidance and negotiation skills played a key role in securing the best possible terms for the seller. The portfolio’s diverse range of assets appealed to a wide pool of buyers, ultimately leading to a successful sale at $45,000,000.
Sale Price: $45,000,000
Property Address: 3489 Broadway, 519 West 143rd Street, 610 West 163rd Street, 548 West 164th Street, New York, NY
Zoning: Multifamily – Elevator, Multifamily – Walk-Up
Property Type: Multifamily Portfolio
Sale Date: November 11, 2013
Total Units: 205
Total SF/BSF: 242,740
Price per SF/BSF: $185.38
Market Strategy and Leverage
Bob leveraged his extensive network of investors and developers to identify qualified buyers for the portfolio. The Hamilton Heights and West Harlem neighborhoods have seen significant growth in recent years, attracting new investment and development. Bob’s knowledge of the local market, coupled with his ability to assess the potential of each building, enabled him to negotiate favorable terms for the seller.
Neighborhood Overview
Hamilton Heights, Washington Heights, and West Harlem are some of Northern Manhattan’s most desirable neighborhoods. Key characteristics include:
- Proximity to the Hudson River and public transportation options (A, C, and 1 subway lines).
- Increasing development and gentrification in the area, attracting new businesses and residents.
- Rich cultural history, with landmarks like the Hamilton Grange National Memorial and vibrant local communities.
The successful sale of this portfolio highlights the growing demand for multifamily properties in Northern Manhattan, especially in neighborhoods like Hamilton Heights, which have become attractive to investors looking for opportunities with long-term growth potential.
Conclusion
The Boulevard Heights Portfolio sale underscores Bob Knakal’s expertise in managing multifamily transactions and his ability to secure top-dollar deals in competitive markets. By maintaining strong client relationships and continuously providing market insights, Bob helped the seller achieve an exceptional sale price and terms that exceeded expectations.
Testimonial
"Working with Bob Knakal was an excellent experience. His expertise in multifamily real estate is unparalleled, and his team’s strategic approach helped us secure the best possible outcome. We couldn't have asked for a better partner in this process."
– Sheri Shulman, Roxann Management Corp.
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
