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BKREA represented the $31 million sale of 38 West 21st Street, a 68,808-square-foot office building located in Manhattan's Flatiron District. The property traded for approximately $450 per square foot, highlighting continued investment activity in Manhattan's office market.
The transaction was handled by Bob Knakal, Faraz Cheema, Brennan Lee, and Ryan Candel of BKREA. Situated in the highly desirable Flatiron neighborhood, the property offers access to major business districts, transportation options, and a wide range of commercial and retail amenities.
The property sold for $31 million, demonstrating continued investor interest in Manhattan office assets.
Located at 38 West 21st Street, the building benefits from its position in a well-established Manhattan neighborhood known for its commercial activity and accessibility.
The building offers substantial office space, providing scale for investors evaluating commercial real estate opportunities in Manhattan.
The transaction achieved a reported price of approximately $450 per square foot, offering a reference point for evaluating office property values in the Flatiron District.
Bob Knakal, Faraz Cheema, Brennan Lee, and Ryan Candel represented the transaction, bringing investment sales expertise and market knowledge to the deal.
The sale reflects ongoing transaction activity as investors assess pricing, asset quality, and opportunities across New York City's commercial real estate market.
The sale of 38 West 21st Street underscores the importance of location, property scale, and market expertise in Manhattan office investment sales. With a $31 million transaction value and a substantial office footprint, the property represents a notable transaction in the Flatiron District.
For investors and property owners, transactions like this provide useful market data for evaluating comparable properties, understanding pricing benchmarks, and assessing investment opportunities across Manhattan.
Where is 38 West 21st Street located?
The property is located in Manhattan's Flatiron District, a prominent commercial neighborhood in New York City.
How much did 38 West 21st Street sell for?
The office building sold for $31 million, or approximately $450 per square foot.
How large is the property?
The building contains approximately 68,808 square feet of office space.
Who represented the transaction?
Bob Knakal, Faraz Cheema, Brennan Lee, and Ryan Candel of BKREA represented the deal.
When did the property close?
According to Traded, the transaction closed on June 29, 2026.
What does this transaction indicate about Manhattan's office market?
The sale provides a current transaction benchmark for office properties in the Flatiron District and illustrates continued investment activity in Manhattan's commercial real estate market.
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