Walk-Up Multifamily Building at 301 East 108th Street in East Harlem Sells for $3,975,000

Successful Sale of 301 East 108th Street in East Harlem

Bob Knakal and his team successfully closed the sale of 301 East 108th Street, a walk-up multifamily building in East Harlem. The transaction, completed on February 27, 2004, involved a well-positioned asset that attracted strong interest from investors.

The property, consisting of 41 residential units across three interconnected buildings, offered a total of 24,644 square feet, making it a desirable acquisition for the buyer. Bob’s deep understanding of the Harlem market and strategic approach ensured an optimal outcome for the seller.

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Sale Details

Located in a rapidly evolving neighborhood, the property at 301 East 108th Street generated competitive interest from multiple buyers. Bob’s proactive market engagement and extensive buyer network helped secure a final sale price of $3,975,000, with a price per square foot of $161.30.

Sale Price: $3,975,000
Property Type: Multifamily – Walk-Up
Sale Date: February 27, 2004
Building Size: 24,644 SF
Price Per SF: $161.30
Units: 41

Property Details

301 East 108th Street is a three-building walk-up complex in East Harlem, a neighborhood known for its strong rental demand and continued investment interest. The property featured a mix of residential units, providing steady cash flow and long-term appreciation potential.

With its solid structure and established tenancy, the asset presented an attractive opportunity for repositioning and value enhancement.

Full Address: 301 East 108th Street, New York, NY 10029
Stories: Walk-Up
Buildings: 3
Asset Class: Multifamily
Square Footage: 24,644 SF
Units: 41

Market Strategy and Competitive Positioning

Bob Knakal’s strategy focused on identifying the right buyers who recognized the potential of a well-located East Harlem walk-up. His team leveraged:

Market data to highlight rental growth potential
Neighborhood trends showcasing East Harlem’s upward trajectory
Comparable sales analysis to validate the asking price

This approach generated multiple inquiries, leading to an efficient and competitive sale process.

Neighborhood Overview

East Harlem continues to be a sought-after market for multifamily investors due to:

Growing Demand: Increasing interest from developers and renters alike
Proximity to Transit: Easy access to major subway lines and bus routes
Strong Community Appeal: A vibrant mix of retail, dining, and cultural institutions
Investment Potential: Rising property values and rental income growth

Conclusion

The sale of 301 East 108th Street reflects Bob Knakal’s expertise in positioning multifamily assets for maximum value. His long-term market insights and proactive engagement ensured that the seller achieved a favorable outcome.

By leveraging data-driven strategies and a broad investor network, Bob secured a well-executed transaction that highlights the continued appeal of East Harlem’s walk-up multifamily buildings.