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Successful Sale of 31 West 54th Street in Midtown West, Manhattan
Bob Knakal successfully closed the sale of 31 West 54th Street, a boutique office building located in Midtown West, Manhattan. The transaction, finalized on May 20, 1998, was brokered on behalf of Daniel Duhl of F & DD 54 Associates LLC. The buyer, renowned luxury footwear retailer Manolo Blahnik, acquired the property for $2,300,000. This user-driven deal exemplifies Bob’s strategic approach to matching unique properties with ideal end-users.
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Sale Details
In a transaction that required creativity and persistence, the 8,400-square-foot office building at 31 West 54th Street sold for $2,300,000, equating to $273.81 per square foot.
Bob Knakal advised the seller, Daniel Duhl, a high-net-worth investor, in positioning the property for a user acquisition—a strategy that ultimately secured the best possible outcome.
The buyer, Manolo Blahnik, sought a flagship space in a prestigious corridor, recognizing the building’s prime location and adaptable interior.
Key Sale Highlights:
- Sale Price: $2,300,000
- Price per SF/BSF: $273.81
- Buyer: Manolo Blahnik (User)
- Seller: Daniel Duhl, F & DD 54 Associates LLC
- Asset Class: Boutique Office/User
- Sale Date: May 20, 1998
Property Details
Located just off Fifth Avenue, 31 West 54th Street sits between Fifth and Sixth Avenues, directly across from the Museum of Modern Art (MoMA). This Midtown West location is among the most desirable in Manhattan, offering world-class visibility and proximity to major retail, cultural, and corporate destinations.
Full Address: 31 West 54th Street, New York, NY 10019
Key Property Characteristics:
- Boutique office building ideal for high-end retail conversion
- Approximately 8,400 square feet of built space
- Steps from Fifth Avenue luxury retail corridor
- Surrounded by iconic landmarks like MoMA, Rockefeller Center, and Central Park
- Lot and building specifics offered the flexibility needed for a single-user layout
Market Strategy and Positioning
Midtown West is one of Manhattan’s most competitive and tightly held real estate markets. At the time of sale, demand for high-end office and retail space in this corridor was steadily rising. Bob Knakal identified early on that this particular property would best appeal to a user-owner who could benefit from occupying the space rather than renting.
By marketing directly to high-end retail brands and boutique firms, Bob positioned the building not just as a passive investment—but as a brand-building flagship location. His approach capitalized on the surrounding cultural institutions and proximity to Fifth Avenue to drive buyer interest.
Neighborhood Overview
Midtown West remains a highly coveted neighborhood for luxury users and investors alike, offering unmatched accessibility and prestige.
Local Highlights Include:
- Steps from Fifth Avenue, one of the world’s premier retail corridors
- Across the street from the Museum of Modern Art (MoMA)
- Close proximity to Central Park, Rockefeller Center, and Broadway
- Surrounded by high-end residential and hotel developments
The location’s blend of cultural cachet, corporate presence, and pedestrian traffic made this building a strategic acquisition for a luxury retail brand like Manolo Blahnik.
Conclusion
The sale of 31 West 54th Street stands as a prime example of Bob Knakal’s ability to see beyond the obvious and align a property with the right end-user. His persistence, local knowledge, and creative marketing directly led to the successful outcome.
Bob’s deep familiarity with Midtown West and his client-first approach ensured that the seller’s pricing goals were achieved through a carefully executed user strategy—resulting in a high-profile retail acquisition in one of New York’s most iconic neighborhoods.
Testimonial
“When I met Bob Knakal I was immediately impressed with his knowledge of the neighborhood and enthusiasm for my property. Bob had to overcome many obstacles here and work his tail off day after day and week after week to get me my price. He told me that a user would be the best buyer for me and he found a perfect user. I give Bob Knakal my highest recommendation to any seller looking for a real broker to tenaciously fight for their best interests.”
— Dan Duhl, F & DD 54 Associates LLC
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Frequently Asked Questions
Q1: What type of property was 31 West 54th Street?
It was a boutique office building that appealed to user-buyers due to its location and size.
Q2: Why was this property attractive to Manolo Blahnik?
Its Midtown West address, proximity to Fifth Avenue, and standalone identity made it ideal for retail branding and direct occupancy.
Q3: What role did Bob Knakal play in the sale?
Bob developed a targeted marketing strategy, identified a user-buyer, and negotiated favorable terms for the seller, securing the best possible outcome.
