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Successful Sale of 41 West 88th Street on the Upper West Side
Bob Knakal and his team successfully facilitated the sale of 41 West 88th Street, a classic Upper West Side walk-up building. The property, a 10-unit multifamily asset, was sold for $4,970,000 on August 29, 2005.
This transaction highlighted the strong demand for well-located walk-up buildings in the neighborhood. Bob’s strategic positioning of the asset and market outreach resulted in a competitive sale process, ensuring the best possible outcome for the seller.
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Sale Details
41 West 88th Street, a 10-unit, five-story walk-up, attracted significant interest due to its prime Upper West Side location and desirable unit mix. Bob Knakal’s approach ensured that the property was well-positioned to attract serious buyers, ultimately leading to a $4.97M closing.
- Sale Price: $4,970,000
- Property Type: Multifamily – Walk-Up
- Units: 10
- Stories: 5
- Building Size: 6,879 SF
- Price per SF: $722.49
- Sale Date: August 29, 2005
- Neighborhood: Upper West Side, Manhattan
Property Details
Situated on a tree-lined street in the heart of the Upper West Side, 41 West 88th Street is a well-maintained pre-war walk-up. The building’s attractive brownstone façade and proximity to Central Park made it a sought-after asset among investors.
The property’s 10 residential units offered a mix of layouts catering to long-term renters, a key factor that added to its investment appeal.
- Full Address: 41 West 88th Street, New York, NY 10024
- Property Type: Multifamily – Walk-Up
- Stories: 5
- Total Units: 10
- Building Size: 6,879 SF
- Zoning: Residential
Market Strategy and Competitive Positioning
Bob Knakal and his team leveraged market data and investor demand to position the property effectively. The strategy included:
- Targeting investors focused on stable, income-generating multifamily assets.
- Highlighting the building’s pre-war charm, tenant stability, and proximity to key neighborhood amenities.
- Engaging in an extensive marketing process to generate competitive interest, ensuring the property achieved maximum value.
Neighborhood Overview
The Upper West Side remains one of Manhattan’s most desirable residential areas, offering a mix of historic charm and modern conveniences:
- Central Park Access: Just steps from one of New York City's most iconic green spaces.
- Cultural Attractions: Close to the American Museum of Natural History and Lincoln Center.
- Strong Rental Market: Consistently high demand for rental units due to the neighborhood’s appeal.
- Classic Architecture: Characterized by pre-war brownstones and historic walk-up buildings.
Conclusion
The sale of 41 West 88th Street exemplifies Bob Knakal’s expertise in maximizing value for sellers in Manhattan’s competitive real estate market. His strategic approach, market insight, and long-term relationship-building ensured that the seller secured an optimal outcome in this transaction.
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