Successful Sale of 145-149 East 49th Street in Midtown East, Manhattan
Bob Knakal orchestrated the successful sale of 145-149 East 49th Street, a 9-story elevator multifamily building in Midtown East. The 42,366-square-foot property sold for $4,500,000, equating to $106.22 per square foot — a strong price point for the mid-1990s market.
This strategically located property featured a 56-foot frontage on East 49th Street and sat on a 5,600-square-foot lot. The sale marked another milestone in Bob’s track record of navigating complex multifamily deals in Manhattan’s dense Midtown corridor.
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Sale Details
Positioned near the heart of Midtown East, this transaction involved a quality asset with long-term rental upside. Bob Knakal’s targeted marketing efforts resulted in a successful outcome for both parties.
Sale Price: $4,500,000
Buyer: Arnold Goldstein
Seller: N.R. Kalikow, Willow 49th St. LLC
Property Type: Multifamily – Elevator
Sale Date: December 21, 1995
Total SF: 42,366
Price per SF: $106.22
Lot Dimensions: 56 ft x 100 ft
Stories: 9
Units: 3
Borough: Manhattan
Neighborhood: Midtown East
Full Address: 145-149 East 49th Street, New York, NY 10017
Property Details
145-149 East 49th Street was a rare offering: a full-building elevator multifamily asset with only three large units. This configuration was well-suited to long-term residential leases or corporate housing in a neighborhood heavily trafficked by Midtown’s business core.
The 9-story structure benefited from:
- Generous ceiling heights
- Classic prewar construction
- Full building width exposure across 56 feet
- Elevator access throughout
Given its location between Lexington and Third Avenues, the asset offered both convenience and prestige.
Market Strategy and Execution
Bob Knakal’s marketing approach emphasized:
- The building’s boutique multifamily character
- The value-add opportunity in a supply-constrained submarket
- Strong proximity to Grand Central Terminal and Midtown office hubs
His strategy targeted private investors and family offices seeking stable income in Midtown East. The result was a competitive process that produced a full-value offer from an experienced buyer.
Neighborhood Overview: Midtown East
- Steps from Grand Central Terminal
- Surrounded by corporate headquarters, luxury hotels, and diplomatic missions
- Longstanding demand for residential space from professionals
- Stable rental market driven by proximity to transit and amenities
- Strong appeal to both domestic and international investors
Conclusion
The $4.5 million sale of 145-149 East 49th Street reflected Bob Knakal’s deep expertise in Midtown East and his ability to close complex elevator building transactions. Through targeted outreach and thorough positioning, Bob secured a favorable outcome in a highly competitive market.
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Frequently Asked Questions
Q1: What kind of property is 145-149 East 49th Street?
It’s a 9-story elevator multifamily building with three large residential units, ideal for long-term tenants or corporate housing.
Q2: Why was this building attractive to investors in 1995?
Its Midtown East location, full-building width, and elevator access offered stable income potential with long-term upside.
Q3: What made this transaction successful?
Bob Knakal’s targeted marketing and in-depth neighborhood knowledge brought in a well-matched buyer and secured a full-price deal.
