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.
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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.
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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.
