TriBeCa Office and Retail Building at 163 Duane Street Sells for $5,150,000

Successful Sale of 163 Duane Street in TriBeCa, Manhattan

Bob Knakal successfully closed the sale of 163 Duane Street, a four-story office and retail building located in the heart of TriBeCa. The property, spanning 8,000 square feet, was a rare opportunity in a high-demand market. With Bob’s strategic approach, the transaction closed at $5,150,000, reflecting strong market interest in this well-positioned asset.

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Sale Details

Positioned in one of Manhattan’s most prestigious neighborhoods, 163 Duane Street garnered significant interest due to its historic charm and mixed-use potential. The final sale price of $5.15 million highlighted the value of the property’s prime location and architectural appeal.

Sale Price: $5,150,000
Property Type: Office, Retail
Sale Date: July 17, 2018
Building Size: 8,000 SF
Stories: 4
Price per SF: $643.75

Property Details

The four-story building at 163 Duane Street stood as a testament to TriBeCa’s rich history, blending classic architecture with modern functionality. Featuring a retail space on the ground floor and office space above, the property’s layout was highly attractive to both investors and end-users.

Full Address: 163 Duane Street, New York, NY 10013
Lot Size: 5,118 SF
Building Size: 8,000 SF
Asset Class: Office, Retail
Stories: 4

Market Strategy and Leverage

Bob Knakal’s approach ensured that the property received maximum exposure in the marketplace. By leveraging his extensive network and deep knowledge of the TriBeCa market, he was able to position the property to attract serious buyers. The marketing campaign targeted both investors and business owners seeking a presence in one of Manhattan’s most sought-after retail and office corridors.

Neighborhood Overview

TriBeCa is one of Manhattan’s most prestigious and historically rich neighborhoods, known for:

Architectural charm: Featuring cast-iron buildings, cobblestone streets, and loft-style spaces.
Retail and dining: Home to high-end restaurants, boutique shops, and luxury brands.
Prime location: Close to the Financial District, SoHo, and the Hudson River waterfront.
Strong demand: A highly competitive market for office and retail properties.

Conclusion

The sale of 163 Duane Street highlights Bob Knakal’s expertise in handling high-value transactions in New York’s most competitive markets. His strategic marketing approach and deep market insights ensured a successful outcome for all parties involved.