YMCA Sells 3-Story Institutional Building at 176 West 105th Street on the Upper West Side for $9,000,000

Successful Sale of 176 West 105th Street on the Upper West Side, Manhattan

‍Bob Knakal and his team successfully facilitated the sale of 176 West 105th Street, a three-story institutional property, for $9,000,000. The property, owned by Joe Chan of the YMCA, was sold to Romemu Jewish Congregation, a religious organization. This sale highlights Bob's ability to secure optimal deals, particularly for user buyers, by leveraging his deep knowledge of the market and his extensive buyer network.

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Sale Details

‍The sale price of $9,000,000 was achieved after the YMCA decided to part with their property, which was strategically marketed to attract user buyers. Bob Knakal’s team used their vast list of potential buyers and an effective marketing plan to ensure maximum exposure both locally and internationally. With a focus on identifying the right buyer for a user property, Bob and his team helped secure a great outcome for Joe Chan.

Sale Price: $9,000,000
Seller: Joe Chan, YMCA
Buyer: Romemu Jewish Congregation
Seller Type: Non-Profit
Property Type: Institutional, User
Property Address: 176 West 105th Street, New York, NY 10025
Sale Date: October 16, 2018
Building Details:
- Lot Size: 3,237 sq. ft.
- Building Size: 18,350 sq. ft.
- Stories: 3
- Price per SF/BSF: $490.46

Property Details

‍The property at 176 West 105th Street, situated in the thriving Upper West Side of Manhattan, provided a unique opportunity for a user buyer. With its three-story layout and large lot, it was an ideal fit for Romemu Jewish Congregation, whose specific needs aligned with the property's features. The sale demonstrated Bob’s commitment to tailoring his approach to each client’s needs, ensuring the best possible outcome for the seller.

Building Size: 18,350 sq. ft.
Lot Size: 3,237 sq. ft.
Asset Class: Institutional, User
Stories: 3

Market Strategy and Leverage

‍Bob Knakal’s market strategy involved leveraging his extensive network to reach out to potential user buyers. His team created a comprehensive marketing plan that included targeted exposure to domestic and international buyers. The expertise of Bob and his team in user property sales helped secure Romemu Jewish Congregation as the buyer, ensuring a successful transaction that exceeded expectations.

Neighborhood Overview

‍The Upper West Side is one of Manhattan’s most desirable neighborhoods, offering a combination of residential, commercial, and institutional properties. This sale benefited from the area's established reputation and the strong demand for properties in this prime location.

Central location near Riverside Park and Central Park
Strong demand for institutional and user properties
Vibrant and diverse community with a mix of residential, commercial, and cultural spaces
Highly desirable for religious, educational, and community organizations

Conclusion

‍The sale of 176 West 105th Street is a prime example of Bob Knakal’s ability to secure exceptional deals for his clients. By effectively utilizing market knowledge and buyer networks, Bob’s team ensured the YMCA received an optimal sale price and terms. This transaction underscores Bob’s success in navigating the unique challenges of institutional and user property sales.

Testimonial

‍"When it was time to sell a unique property we owned on Amsterdam Avenue, we knew we needed a brokerage team that had a great reputation, an extensive track record, an understanding of the local marketplace and, importantly, had expertise in user property sales as we knew that a user buyer would lead to an optimal result for us. Bob Knakal, Jon Hageman, and their team possessed all of these qualities. They created and implemented a marketing plan that exposed the property to the widest arena of potential buyers domestically and internationally. Their extensive list of user buyers for properties in New York City was a great resource to access potential user buyers. The team was highly communicative, did everything they said they would and produced an outstanding result for us. We highly recommend Bob, Jon, and their team to anyone interested in selling a property in New York."
– Joe Chan, YMCA

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