BKREA successfully brokered the $20.1 million sale of a Manhattan development site located at 136 West 44th Street. The transaction was led by Bob Knakal, Ryan Candel, and Jas Saini on behalf of seller The Durst Organization.
The buyer, Ben Joseph Group Holdings, acquired the development site for $20,100,000, reinforcing continued investor demand for strategically located Manhattan development opportunities.
Key Highlights of the BKREA Development Site Transaction
BKREA Facilitated the $20.1 Million Sale BKREA represented the transaction involving the sale of the development site at 136 West 44th Street in Manhattan.
Experienced BKREA Team Led the Deal The brokerage team included Bob Knakal, Ryan Candel, and Jas Saini, continuing BKREA’s growing presence in New York City investment sales.
Prime Manhattan Development Opportunity The property included approximately 60,322 buildable square feet with a price of $333 per buildable square foot.
The Durst Organization Served as Seller One of New York City’s most recognized real estate ownership groups sold the property through BKREA.
Ben Joseph Group Holdings Acquired the Site The acquisition demonstrates continued confidence in Manhattan development opportunities despite evolving market conditions.
BKREA Continues Expanding Its NYC Investment Sales Platform The transaction further highlights BKREA’s focus on development sites, strategic advisory services, and specialized New York City investment sales expertise.
Transaction Overview
Property Details
Address: 136 West 44th Street, Manhattan
Property Type: Development Site
Sale Price: $20,100,000
Buildable Square Footage: 60,322 BSF
Price Per Buildable Square Foot: $333
Parties Involved
Buyer: Ben Joseph Group Holdings
Seller: The Durst Organization
Brokerage Team: BKREA
BKREA’s Role in Manhattan Development Site Sales
BKREA continues to strengthen its position in New York City investment sales by focusing heavily on:
Development sites
Redevelopment opportunities
User properties
Strategic advisory assignments
The firm’s approach combines:
Proprietary market intelligence
Deep local expertise
Targeted buyer outreach
Structured competitive marketing processes
This strategy allows BKREA to maximize pricing and create efficient transaction execution for property owners throughout New York City.
Why Development Sites Remain Important in Manhattan
Despite broader market uncertainty, Manhattan development sites continue attracting investor interest due to:
Long-term land scarcity
Redevelopment potential
Strategic location value
Flexible future-use opportunities
Continued demand for high-quality assets
Transactions like 136 West 44th Street demonstrate that well-positioned development opportunities remain highly sought after by experienced investors and developers.
BKREA’s Growing Presence in NYC Investment Sales
Since launching, BKREA has rapidly expanded its investment sales platform through:
High-profile development site transactions
Specialized advisory services
Data-driven market analysis
Seller-focused representation
Strategic execution capabilities
Led by Bob Knakal and a growing brokerage team, the firm continues positioning itself as a major player in New York City commercial real estate investment sales.
Frequently Asked Questions
What property was sold in this transaction?
The transaction involved the development site located at 136 West 44th Street in Manhattan.
Who brokered the sale?
The sale was brokered by BKREA brokers Bob Knakal, Ryan Candel, and Jas Saini.
Who bought the property?
Ben Joseph Group Holdings acquired the development site.
Who sold the property?
The seller was The Durst Organization.
What was the sale price?
The property sold for $20.1 million.
Why is this transaction significant for BKREA?
The deal highlights BKREA’s continued growth and specialization in New York City development site investment sales and strategic advisory services.
