Successful Sale of 200 East 75th Street in the Upper East Side
Bob Knakal and his team successfully closed the sale of 200 East 75th Street, also known as 1303-1309 Third Avenue, a premier development site in Manhattan’s Upper East Side. The property, which consists of four combined lots and spans approximately 81,630 buildable square feet, sold for $32,325,000.
Positioned at the northeast corner of 75th Street and Third Avenue, this site presented a prime opportunity for development in one of New York City's most sought-after residential and commercial corridors.
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Sale Details
The transaction closed on March 4, 2021, securing a strong price of $32.33 million. The site offered a generous 81,630 buildable square feet, making it a valuable acquisition for future development.
- Sale Price: $32,325,000
- Asset Type: Development Site
- Neighborhood: Upper East Side
- Lot Size: 8,163 SF
- Total Buildable SF: 81,630
- Stories: 5
- Buildings on Lot: 4
- Price Per Buildable SF: $395.99
- Sale Date: March 4, 2021
Property Details
Located in the Upper East Side, the site spans multiple addresses, including 200 East 75th Street and 1303-1309 Third Avenue. With a substantial lot size and flexible development potential, the property was highly sought after by developers.
Its prime location on Third Avenue places it within proximity to top-tier retail, dining, and transit options, making it ideal for high-end residential or mixed-use development. The property’s corner positioning further enhanced its appeal, allowing for excellent street visibility and frontage.
- Full Address: 200 East 75th Street / 1303-1309 Third Avenue
- Zoning: Development
- Property Type: Development Site
- Lot Size: 8,163 SF
- Buildable SF: 81,630
Strategic Market Positioning
Bob Knakal and his team leveraged their deep market knowledge to position the property effectively, ensuring it attracted strong interest from developers. Their approach focused on highlighting the site's prime location, development potential, and favorable zoning.
The sale reflected the strong demand for well-located development sites in the Upper East Side, particularly along Third Avenue, where large-scale projects continue to redefine the neighborhood’s skyline.
Neighborhood Overview
- Prime Upper East Side Location: Situated at 75th Street and Third Avenue, an established residential and commercial hub.
- High-End Residential Demand: Surrounded by luxury condominiums and pre-war co-ops, attracting affluent buyers and tenants.
- Retail & Dining Corridor: Steps from popular retail destinations, fine dining, and boutique shopping.
- Strong Transit Access: Near multiple subway lines and major bus routes, enhancing accessibility.
Conclusion
The sale of 200 East 75th Street underscores Bob Knakal’s expertise in navigating complex development transactions and maximizing value for sellers. With a keen understanding of market trends and a strategic sales approach, the team successfully positioned the property for a premium sale, delivering an optimal outcome.
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