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Successful Sale of 46 East 1st Street in the East Village, Manhattan
Bob Knakal and his team successfully facilitated the sale of 46 East 1st Street, a multifamily walk-up in the heart of the East Village. The property, featuring 24 residential units, sold for $5,400,000, reflecting the strong demand for well-located rental buildings in this sought-after neighborhood.
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Sale Details
Situated on East 1st Street, this 8,556-square-foot property attracted interest from multiple buyers due to its prime location and stable income potential. After a competitive bidding process, the transaction closed at $5.4 million, aligning with market trends for East Village multifamily assets.
- Sale Price: $5,400,000
- Property Type: Multifamily – Walk-Up
- Sale Date: January 31, 2013
- Building Size: 8,556 SF
- Units: 24
- Price per SF: $631.14
Property Details
The walk-up building at 46 East 1st Street offered investors a rare opportunity to acquire a well-maintained multifamily asset in one of Manhattan’s most vibrant neighborhoods. The property’s 24 residential units benefited from strong occupancy rates, reflecting the area’s continued appeal to renters.
- Full Address: 46 East 1st Street, New York, NY 10003
- Property Type: Multifamily – Walk-Up
- Stories: Not Disclosed
- Lot Size: Not Disclosed
Market Strategy and Competitive Positioning
Bob Knakal and his team leveraged their extensive network to generate strong buyer interest, ensuring competitive pricing for the seller. The East Village’s desirability, coupled with the property’s income-generating potential, resulted in an efficient marketing process and an optimal sale price.
Neighborhood Overview
The East Village is known for:
- A thriving mix of historic charm and modern development.
- A strong rental market driven by students, young professionals, and long-term residents.
- Proximity to cultural institutions, entertainment, and transit options.
- Continued investor interest in multifamily properties due to stable demand.
Conclusion
The successful sale of 46 East 1st Street highlights Bob Knakal’s expertise in navigating the competitive East Village market. By implementing a strategic marketing approach and maintaining strong industry relationships, his team was able to maximize value for the seller and facilitate a seamless transaction.
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