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Successful Sale of 155 West 46th Street in Times Square, Manhattan
Bob Knakal successfully arranged the sale of 155 West 46th Street, a prime commercial and development property located in the vibrant Times Square district of Midtown West, Manhattan. The transaction was finalized at $8,380,000, underscoring the site's value in one of Manhattan’s most high-traffic corridors.
This sale was executed by Bob Knakal and his team, with full-service guidance and flawless execution throughout the deal process. The strategic location of the property—just steps from the heart of Times Square—combined with strong development potential made this a highly sought-after asset.
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Sale Details
The sale of 155 West 46th Street, a mixed-use commercial and retail development site, closed on June 11, 2012, for $8,380,000.
- Sale Price: $8,380,000
- Price Per Buildable Square Foot: $651.68
- Buyer: SL Green – Jeff Sutton
- Seller: Concord Partners 46th Street LLC (David J Swe)
- Asset Type: Commercial, Development, Retail
- Date Closed: June 11, 2012
Transaction Highlights:
- Located in Midtown West near Times Square
- Purchased by prominent real estate investor and retail operator
- Future potential for development and repositioning
- Sale executed during a key recovery phase post-recession
Property Details
155 West 46th Street is situated on the south side of 46th Street between Sixth and Seventh Avenues, right in the dynamic Times Square submarket. Known for its dense foot traffic, bright signage, and round-the-clock activity, this stretch of Midtown West remains one of the most commercially vibrant locations in Manhattan.
Full Address: 155 West 46th Street, New York, NY 10036
Property Attributes:
- Zoning: Commercial/Development (zoning details available upon request)
- Lot Size: Standard Manhattan lot (exact dimensions confidential)
- Total Buildable Square Footage: 12,859
- Stories: 14
- Building Count: 1
Investment Highlights:
- Mid-block location in globally recognized Times Square
- Ideal for retail repositioning or redevelopment
- High visibility and proximity to major transit hubs
- Surrounded by flagship stores, hotels, and entertainment venues
Market Strategy and Positioning
This transaction occurred during a pivotal time in the Manhattan market, as investor confidence returned following the 2008 financial crisis. The property’s positioning near Times Square made it a strategic acquisition for investors seeking long-term commercial value.
Bob implemented a targeted marketing campaign to highlight the asset’s location and potential for redevelopment. The firm leveraged its proprietary buyer database and deep market knowledge to identify top-tier prospects, resulting in a competitive bidding process that achieved full market value.
Neighborhood Overview
The Times Square district is one of the most iconic commercial destinations in the world. Often referred to as “The Crossroads of the World,” it offers unmatched visibility, nonstop pedestrian activity, and significant tourist draw.
Nearby Attractions and Key Features:
- One block from Broadway theaters and Times Square Plaza
- Near Bryant Park, Rockefeller Center, and Fifth Avenue shopping
- Surrounded by major hotels and corporate offices
- Excellent transit connectivity via multiple subway lines and Port Authority
Why Times Square Stands Out:
- Unmatched Foot Traffic: Over 300,000 pedestrians daily
- Retail Magnet: Global brands and entertainment centers dominate the area
- High Visibility: Neon signage and digital billboards offer marketing exposure
- 24/7 Activity: Tourists, office workers, and locals keep the area constantly buzzing
Conclusion
The sale of 155 West 46th Street is another example of how Bob Knakal delivers tailored advisory and results-driven execution. This Times Square property presented both retail value and development upside—an opportunity that Bob Knakal and his team expertly positioned to maximize outcome for the seller.
Bob’s strategic process and market insight ensured that the client received top-dollar value for this uniquely situated asset in one of Manhattan’s most competitive submarkets.
Testimonial
“Bob Knakal and his team performed flawlessly for us for this sale. Thank you Bob for a job well done.”
– David J Swe, Concord Partners
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Frequently Asked Questions
Q1: What type of property was sold at 155 West 46th Street?
It was a commercial retail development site with potential for repositioning or vertical expansion in Midtown Manhattan.
Q2: Who bought the property at 155 West 46th Street?
The buyer was a joint venture between SL Green and Jeff Sutton, both prominent players in NYC commercial real estate.
Q3: How large is the site at 155 West 46th Street?
The property consists of approximately 12,859 buildable square feet.
Q4: When did the sale of 155 West 46th Street close?
The transaction was finalized on June 11, 2012.
Q5: Why is Times Square a valuable location for commercial real estate?
Due to its unrivaled foot traffic, global visibility, and proximity to major transit, Times Square offers consistent demand for retail and commercial development.
