Successful Sale of 19 East 108th Street in East Harlem, Manhattan
Bob Knakal facilitated the sale of 19 East 108th Street, a 20-unit multifamily walk-up building located in East Harlem. Sold for $2,825,000, the property offered a compelling opportunity for long-term investors seeking stable income and future upside in Northern Manhattan.
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Sale Details
This transaction closed on October 26, 2004, during a period of steady investor interest in the Harlem submarket. The property, totaling 11,705 square feet, was sold at $241.35 per square foot, reinforcing the area’s growing appeal for multifamily operators.
- Sale Price: $2,825,000
- Asset Type: Multifamily – Walk-Up
- Building Size: 11,705 SF
- Price per SF: $241.35
- Units: 20 Residential Units
- Sale Date: October 26, 2004
- Neighborhood: East Harlem, Northern Manhattan
- Address: 19 East 108th Street, New York, NY 10029
Property Details
19 East 108th Street is a classic East Harlem walk-up building with 20 residential units. Its compact size and efficient unit layout made it a valuable income-producing asset, especially suited for an experienced buyer focused on steady rental yield and neighborhood revitalization.
Market Strategy and Buyer Targeting
Bob Knakal positioned the building to attract well-capitalized investors seeking multifamily opportunities below $3 million. By emphasizing the property’s strong rent roll, solid location, and scale suitable for management efficiency, the marketing campaign captured the attention of long-term value investors. The strategy paid off with a timely and competitive transaction.
Neighborhood Overview
Located in East Harlem, the building benefits from:
- Close proximity to Central Park and Museum Mile
- Access to multiple subway lines and crosstown bus routes
- A rapidly changing retail and residential landscape
- A diverse community with deep cultural roots
- Ongoing private and public reinvestment initiatives
Conclusion
The $2.825 million sale of 19 East 108th Street showcases Bob Knakal’s ability to identify market momentum and match it with the right buyer profile. His deep-rooted knowledge of Northern Manhattan and proven marketing approach helped make this a seamless transaction in the small-to-mid-sized multifamily sector.
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Frequently Asked Questions
How many apartments are in 19 East 108th Street?
The building contains 20 residential units.
What was the total size of the building?
It spans approximately 11,705 square feet.
What makes this property attractive for investors?
Its manageable size, solid rental history, and East Harlem location make it a strong candidate for steady income and long-term appreciation.
