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Successful Sale of 24 West 45th Street in Midtown West, Manhattan
Bob Knakal completed the sale of 24 West 45th Street, a mid-sized office building in the heart of Midtown West, Manhattan. The property closed on September 9, 1998, for $2,150,000, translating to $123.65 per square foot across 17,388 square feet.
Owned by Ka Wah Bank LTD, the institution selected Bob Knakal over several global firms due to his unmatched knowledge of the Midtown market. That local insight proved invaluable in securing the best outcome in a competitive commercial environment.
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Sale Details
Situated just off Fifth Avenue in one of Manhattan’s most dynamic business districts, 24 West 45th Street represented a compelling opportunity for office users and investors alike.
Bob's hands-on approach and neighborhood expertise played a pivotal role in attracting the right buyer and facilitating a seamless transaction.
- Sale Price: $2,150,000
- Asset Type: Office
- Square Footage: 17,388 SF
- Price per SF: $123.65
- Sale Date: September 9, 1998
- Property Address: 24 West 45th Street, New York, NY 10036
Property Details
The building at 24 West 45th Street is a mid-block commercial property offering over 17,000 square feet of office space. With its close proximity to Fifth Avenue and major Midtown transit hubs, the building appealed to a wide array of users seeking a presence in the city’s commercial core.
- Building Class: Office
- Stories: Not specified
- Total SF: 17,388
- Block/Lot: 1260 / 51
- Units: Not specified
Market Strategy and Execution
To differentiate 24 West 45th Street in a crowded Midtown office market, Bob Knakal focused on the building’s strategic location and efficient footprint. The marketing effort prioritized local ownership groups and office users seeking to control their space rather than lease.
By leveraging his deep connections and insights into Midtown buyer behavior, Bob was able to generate interest quickly and close the transaction with favorable terms.
Neighborhood Overview
Midtown West is one of Manhattan’s premier commercial districts, attracting a diverse mix of global headquarters, boutique firms, and cultural institutions.
Notable neighborhood features:
- Steps from Fifth Avenue, Bryant Park, and Grand Central Terminal
- Major foot traffic from tourists, commuters, and business professionals
- Dense concentration of office, retail, and hotel uses
- Easy access to B/D/F/M, N/Q/R/W, and 4/5/6 subway lines
- Strong demand for mid-size office buildings offering ownership opportunities
Conclusion
The sale of 24 West 45th Street illustrates the advantage of partnering with a broker who understands the nuances of the local market.
Ka Wah Bank LTD chose Bob Knakal over larger firms because of his deep-rooted experience in Midtown, and that decision paid off with a smooth transaction and outstanding result.
Testimonial
"When we needed to sell 24 West 45th Street, we interviewed several brokerage firms. It would have been easy to go with one of the big national or global firms, but we took a chance with Bob Knakal because of his local market knowledge and his track record in the neighborhood. He did a fabulous job for us. No one could have done a better job for us. We suggest that any seller speak to Bob before selecting another broker."
— Peter Zhao, Ka Wah Bank LTD
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