Successful Sale of 183 Columbia Heights in Brooklyn Heights, Brooklyn
Bob Knakal and his team at BKREA orchestrated the successful sale of 183 Columbia Heights, a vacant, seven-story elevator apartment building in the heart of Brooklyn Heights. The transaction, which closed on April 17, 2012, achieved a sale price of $6,600,000. Known for its prime location steps from the Brooklyn waterfront promenade and its beautifully maintained interiors—including 10-foot ceilings and multiple amenities—the property presented unique challenges in a market where financing for vacant properties was difficult to secure.
The seller, a nonprofit organization, Watchtower Bible & Tract Society, relied on Bob’s strategic marketing and negotiation expertise to target a capable buyer. Ultimately, the team secured a purchaser with the resources to acquire the asset on an all-cash basis.
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Sale Details
The seven-story building at 183 Columbia Heights was delivered fully vacant and featured 13 spacious fair-market units across approximately 13,200 square feet. With limited financing options available for vacant residential properties at the time, Bob and his team knew they had to widen the net beyond typical Brooklyn investors.
Sale Price: $6,600,000
Buyer: David Mitchell
Seller: Watchtower Bible & Tract Society
Asset Type: Multifamily – Elevator
Sale Date: April 17, 2012
Price Per Square Foot: $528
Units: 13
Total Building Size: 13,200 square feet
Stories: 7
Neighborhood: Brooklyn Heights
Borough: Brooklyn
Property Address: 183 Columbia Heights, Brooklyn, NY 11201
Property Overview
183 Columbia Heights is an elegant elevator building located between Clark and Pierrepont Streets. Its features include:
- 10-foot ceilings throughout
- Spacious apartments delivered vacant
- Dedicated storage space
- Bike room and laundry room
- Steps from the iconic Brooklyn Heights Promenade
The property offered a rare opportunity for full-scale residential conversion or luxury rental repositioning in one of Brooklyn’s most established neighborhoods.
Market Strategy and Execution
Faced with a financing-constrained buyer pool due to the building’s vacancy, Bob Knakal and his team initiated an aggressive and targeted marketing campaign:
- Contacted all major Brooklyn-based residential investors
- Extended outreach to active Manhattan investors
- Targeted buyers seeking 1031 Exchange opportunities
- Positioned the asset as a prime candidate for condo conversion
Multiple strong offers were generated, and Bob’s team strategically distributed several contracts simultaneously to preserve maximum leverage during negotiations.
Result
Through this methodical outreach and competitive positioning, the team ultimately selected a seasoned condominium converter looking to complete their first project in Brooklyn. Despite broader market hesitations around vacant buildings, the all-cash closing was completed smoothly, demonstrating Bob’s ability to guide sellers through complex, high-stakes transactions.
Neighborhood Overview
Brooklyn Heights is one of New York City’s most historically rich and architecturally elegant neighborhoods. Key highlights include:
- Direct access to the Brooklyn Heights Promenade
- Close proximity to Brooklyn Bridge Park
- Historic brownstones and pre-war charm
- Short commute to Lower Manhattan
- High demand for luxury rentals and condo conversions
Conclusion
The sale of 183 Columbia Heights illustrates Bob Knakal’s deep market knowledge, strategic outreach, and experience in navigating challenging transaction environments. By anticipating financing obstacles and casting a wide net across investor types and geographies, Bob ensured the seller achieved both strong pricing and execution certainty.
Testimonial
“Bob Knakal and his team once again showed how invaluable his participation in this transaction was. A consummate professional, Bob guided us through this process such that we discounted the buyers who could not perform and focused on those that had demonstrated the ability to close. If you are selling a large asset in New York City, you must speak to Bob Knakal and his team.”
— Dan Rice, Real Estate Director, The Watchtower Bible & Tract Society of New York
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Frequently Asked Questions
1. What amenities does 183 Columbia Heights offer?
The building includes 10-foot ceilings, a bike room, a laundry room, and ample storage—features that enhance its appeal for both renters and potential condo conversions.
2. Why was the building sold vacant?
The building was delivered vacant to maximize flexibility for the buyer, offering a blank slate for either luxury rentals or condo conversion.
3. How was the buyer selected for this property?
Multiple offers were received, but the buyer was ultimately chosen for their financial strength and experience with condominium projects, ensuring a timely and secure all-cash closing.
