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Successful Sale of 45 West 88th Street in the Upper West Side, Manhattan
Bob Knakal and his team successfully closed the sale of 45 West 88th Street, a 10-unit multifamily walk-up in the Upper West Side. The property, featuring 6,432 square feet across multiple stories, was sold for $4,200,000 on March 30, 2005.
This sale highlights Bob Knakal’s ability to maximize value in a competitive market, securing a strong price per square foot of $652.99 for the seller.
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Sale Details
Located in the sought-after Upper West Side, 45 West 88th Street attracted significant interest due to its classic pre-war architecture and desirable residential location. The deal closed on March 30, 2005, at a final price of $4.2 million.
- Sale Price: $4,200,000
- Property Type: Multifamily – Walk-Up
- Stories: Multiple
- Total Square Footage: 6,432 SF
- Price per SF: $652.99
- Units: 10
Property Highlights
This classic Upper West Side multifamily walk-up offered an attractive investment opportunity, featuring:
- A pre-war architectural design that maintains historic charm.
- 10 rental units, making it a strong income-generating asset.
- Close proximity to Central Park, adding to its desirability.
- A well-maintained façade, aligning with the neighborhood’s character.
Market Strategy and Execution
Bob Knakal’s team leveraged deep market knowledge and a targeted marketing strategy to identify the most qualified buyers. The competitive Upper West Side market and strong demand for rental properties ensured a smooth transaction at a premium price.
- The desirable location near cultural landmarks and green spaces attracted multiple interested parties.
- A strategic pricing approach helped secure strong terms for the seller.
- Active marketing efforts maximized exposure to the right investors.
Neighborhood Overview
The Upper West Side is a highly sought-after residential and investment market, known for:
- Proximity to Central Park, providing an attractive setting for residents.
- Pre-war architecture, offering timeless appeal and historic charm.
- Strong rental demand, making multifamily properties a valuable asset class.
- Access to transportation, with subway lines and major thoroughfares nearby.
Conclusion
The sale of 45 West 88th Street demonstrates Bob Knakal’s expertise in navigating New York City’s multifamily market. His strategic guidance and deep market understanding led to a successful outcome, securing an optimal price for this Upper West Side walk-up.
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