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BKREA represented Flushing Bank in the $33.2 million sale of the note/loan associated with 150 West 85th Street on Manhattan's Upper West Side. The transaction, which closed on June 22, 2026, involved a 38,838-square-foot property that previously housed the Manhattan Country School and was acquired by The Geneva School.
The transaction attracted competitive interest following the property's marketing after the Manhattan Country School's bankruptcy. Through a competitive bidding process that generated multiple qualified offers, the final price reached $33.2 million, significantly exceeding the initial $20 million offer. Bob Knakal, Anahis Barrie, and Ryan Candel of BKREA represented the seller alongside Tom Brady of Douglas Elliman.
The note/loan transaction closed at $33.2 million, demonstrating substantial buyer interest in the Upper West Side property.
The initial $20 million offer increased to a final bid of $33.2 million following a competitive marketing process that attracted multiple qualified bidders.
Located at 150 West 85th Street, the property benefits from its position in an established Manhattan neighborhood with access to residential communities, transportation, and local amenities.
The property encompasses approximately 38,838 square feet, offering substantial space for institutional use.
The Geneva School emerged as the successful bidder, with another private school and a developer also participating in the competitive process.
The transaction highlights the importance of targeted marketing, qualified buyer outreach, and competitive bidding in maximizing outcomes for sellers and financial institutions.
The sale of 150 West 85th Street demonstrates how a structured marketing process can generate competitive interest in a complex transaction involving a note/loan asset. By attracting multiple qualified bidders and encouraging competition, the brokerage team helped achieve a final bid substantially above the initial offer.
The transaction also underscores the importance of specialized investment sales expertise when navigating distressed situations, institutional properties, and changing ownership circumstances.
Where is 150 West 85th Street located?
The property is located on Manhattan's Upper West Side, a well-established residential neighborhood.
How much did the transaction close for?
The note/loan transaction closed for $33.2 million.
Who acquired the property?
The Geneva School was the successful bidder in the transaction.
Who represented the seller?
Bob Knakal, Anahis Barrie, and Ryan Candel of BKREA represented Flushing Bank, alongside Tom Brady of Douglas Elliman.
How did the bidding process affect the final price?
The initial offer of $20 million increased to $33.2 million after the marketing process attracted multiple qualified bidders.
What does this transaction demonstrate about BKREA's approach?
The transaction illustrates the value of strategic marketing, competitive bidding, and targeted buyer outreach in achieving strong outcomes for sellers.
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