User - Office Building Sold for $7,750,000 at 9 East 69th Street in the Upper East Side, Manhattan

Successful Sale of 9 East 69th Street in the Upper East Side, Manhattan

Bob Knakal and his team successfully facilitated the sale of 9 East 69th Street, a distinguished office building on the Upper East Side. The property, formerly owned by the National Council of Jewish Women, was sold to Synnergos Institute Inc. for $7,750,000.

The sale marked a significant transaction in 1999, as the nonprofit organization sought an optimal buyer to continue the legacy of the building’s use. Bob Knakal’s expertise ensured a streamlined process, securing favorable terms for the seller while positioning the buyer for success in the prestigious neighborhood.

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Sale Details

This historic transaction on the Upper East Side underscored the value of strategically positioning a nonprofit-owned asset in a competitive market. The final sale price was $7.75 million, reflecting the desirability of the property’s prime location and adaptability for office or institutional use.

Sale Price: $7,750,000
Seller Type: Nonprofit Organization
Property Type: Office, User
Sale Date: August 16, 1999
Building Size: 12,168 SF
Price per SF: $636.92

Property Details

9 East 69th Street is a classic Upper East Side townhouse-style office building, offering architectural charm and functionality. The property is situated in one of Manhattan’s most sought-after neighborhoods, known for its historic buildings and institutional presence.

Full Address: 9 East 69th Street, New York, NY 10021
Stories: Noted for its townhouse-style architecture
Property Use: Office, Institutional
Block/Lot: 1384/12

The property’s adaptability made it an attractive asset, appealing to organizations seeking a presence in one of New York City’s most prestigious districts.

Market Strategy and Leverage

Bob Knakal and his team’s approach to the sale focused on identifying ideal end-users for the property. By targeting nonprofit and institutional buyers, they generated competitive interest, ensuring the seller could achieve the best possible outcome.

The property’s prime location and classic architectural features made it a compelling opportunity, while Bob’s expertise in navigating nonprofit sales allowed for a seamless transaction.

Neighborhood Overview

Prestigious Location: Situated near Central Park and Museum Mile.
Institutional Appeal: Home to many nonprofit organizations and cultural institutions.
Architectural Significance: Classic Upper East Side townhouses contribute to the neighborhood’s historic charm.

Conclusion

The sale of 9 East 69th Street highlights Bob Knakal’s ability to secure strong outcomes for nonprofit organizations looking to transition their real estate holdings. Through expert positioning and market strategy, Bob and his team ensured a smooth transaction that aligned with the seller’s goals while meeting the buyer’s needs.