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Successful Sale of 353-361 Edgecombe Avenue in Sugar Hill, Manhattan
Bob Knakal and his team orchestrated the successful sale of 353-361 Edgecombe Avenue, a 67-unit multifamily elevator building in the culturally rich neighborhood of Sugar Hill, Northern Manhattan. The property closed for $7,464,150 on July 8, 2010, reflecting a price of $145.03 per square foot across 51,468 square feet.
The building stood out for its substantial unit count and elevator service, making it a highly desirable acquisition in a neighborhood known for its architectural charm and historical significance.
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Sale Details
Situated in a landmarked pocket of Northern Manhattan, this pre-war elevator building presented a rare opportunity to own scale in Sugar Hill.
Bob’s campaign emphasized the building's high unit count and value-add potential, successfully attracting competitive buyer interest.
- Sale Price: $7,464,150
- Asset Type: Multifamily – Elevator
- Number of Units: 67
- Square Footage: 51,468 SF
- Price per SF: $145.03
- Sale Date: July 8, 2010
- Property Address: 353-361 Edgecombe Avenue, New York, NY 10031
Property Details
The asset at 353-361 Edgecombe Avenue is a six-story elevator apartment building consisting of 67 residential units. Located on a wide, tree-lined stretch of Edgecombe Avenue, the building benefits from expansive frontage and sits within the Sugar Hill Historic District, an area noted for its classic architecture and strong tenant demand.
- Building Class: Multifamily – Elevator
- Stories: Not specified
- Total SF: 51,468
- Units: 67
- Block/Lot: 2054 / 6
Market Strategy and Execution
Bob Knakal’s marketing strategy targeted investors seeking scale in up-and-coming neighborhoods. By focusing on the building’s elevator access, large unit count, and location within a historic district, the team was able to position the property as a stable, long-term hold with future upside.
The result was a successful transaction that matched the building with a buyer aligned with its long-term potential and historical character.
Neighborhood Overview
Sugar Hill is a culturally and architecturally rich neighborhood in Northern Manhattan, long admired for its elegance and community feel.
Highlights of the area include:
- Located within the Sugar Hill Historic District, known for its Renaissance and Art Deco architecture
- Proximity to City College, St. Nicholas Park, and Edgecombe Avenue’s scenic views
- Strong rental demand driven by students, families, and professionals
- Accessible via the A, B, C, and D subway lines
- Emerging investment interest due to its historical significance and affordability relative to other Manhattan neighborhoods
Conclusion
The sale of 353-361 Edgecombe Avenue highlights Bob Knakal’s ability to position large-scale assets for success, even in historically nuanced submarkets like Sugar Hill.
Through market expertise and a carefully executed strategy, Bob and his team delivered a strong outcome for the seller while ensuring the building’s unique character was recognized and appreciated.
This transaction is another example of how strategic brokerage and neighborhood insight come together to achieve superior results.
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