
Successful Sale of 212 East 49th Street in Midtown East, Manhattan
Bob Knakal facilitated the successful sale of 212 East 49th Street, a boutique office property in Midtown East. Purchased for $2,750,000, the building was acquired by a media company to serve as its new headquarters. With 5,712 square feet and a price per square foot of $481.44, the sale exemplifies how Bob’s strategic market guidance helped the buyer secure a functional and well-located office asset.
User Building Sales - For the complete list click here User Buildings
Sale Details
This transaction, completed on October 5, 1995, involved a rare office-user acquisition in the heart of Midtown East. The buyer, a media company, was looking to consolidate its New York operations into a standalone commercial building. Bob’s ability to position the property effectively led to a swift and efficient closing at a favorable price.
- Sale Price: $2,750,000
- Asset Type: Office, User
- Square Footage: 5,712 SF
- Price per SF: $481.44
- Sale Date: October 5, 1995
- Neighborhood: Midtown East, Manhattan
- Address: 212 East 49th Street, New York, NY 10017
Property Details
212 East 49th Street is a boutique-sized commercial building ideally suited for single-tenant use. Located in the heart of Midtown East, the building offers a rare opportunity for businesses seeking a self-contained headquarters with street-level access. Its compact footprint and efficient layout made it a perfect match for a media company looking to establish a central Manhattan base.
Market Strategy and Buyer Fit
The buyer, a telemedia company, had a specific goal: to establish a New York headquarters that offered independence, visibility, and ease of access. Bob Knakal leveraged his network and market knowledge to identify this off-market opportunity, presenting the buyer with a tailored solution. The result was a seamless match between property and purpose—executed at the right price.
Neighborhood Overview
Midtown East continues to be a powerful draw for commercial users due to its:
- Proximity to Grand Central Terminal and multiple subway lines
- Dense office corridor with access to business services and amenities
- Strong blend of commercial and residential activity
- Reputation as a hub for international consulates, media firms, and finance companies
- Steady demand for boutique and midsized office buildings
Conclusion
The acquisition of 212 East 49th Street showcases Bob Knakal’s ability to align property opportunities with user-specific business needs. By understanding the buyer’s strategic priorities, Bob ensured a successful outcome in one of Manhattan’s most competitive office markets.
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
Frequently Asked Questions
What type of property is 212 East 49th Street?
It’s a boutique-sized office building ideally suited for single-tenant or user occupancy.
How large is the property?
The building spans 5,712 square feet.
Why is Midtown East a strategic location for an office headquarters?
Midtown East offers direct access to major transit hubs, a central Manhattan address, and proximity to other high-profile companies and consulates, making it ideal for a headquarters location.