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Successful Sale of 307 East 60th Street in the Upper East Side, Manhattan
Bob Knakal and his team successfully arranged the sale of 307 East 60th Street, a commercial user/retail building in the heart of Manhattan’s Upper East Side. The transaction was completed on June 7, 1995, for $1,500,000. This off-market deal was secured for a nonprofit organization seeking a central location to support its community-driven mission.
The building, formerly owned by Rosina Alessandro, was a rare opportunity—featuring over 8,900 buildable square feet with flexible retail and user functionality. Its proximity to key Upper East Side institutions and major crosstown access contributed to the site’s appeal.
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Sale Details
Bob Knakal, with his signature market insight and longstanding broker relationships, successfully navigated this niche deal for both parties involved.
- Sale Price: $1,500,000
- Price per SF/BSF: $168.35
- Buyer: Hospital Chaplaincy Inc. (Non-Profit)
- Seller: Rosina Alessandro
- Sale Date: June 7, 1995
Property Highlights:
- User sale tailored to nonprofit operations
- 20-unit mixed-use layout with retail components
- Excellent crosstown visibility near Midtown and Roosevelt Island access
- Value-driven price per square foot in high-demand submarket
Property Details
307 East 60th Street is located between 1st and 2nd Avenues, a highly trafficked corridor bridging the Upper East Side and Midtown East. Its accessible location on East 60th Street places it at the convergence of several thriving submarkets.
- Full Address: 307 East 60th Street, New York, NY 10022
- Zoning: Commercial/Use
- Asset Class: Commercial, Retail, User
- Lot Dimensions: Standard Manhattan lot
- Square Footage: 8,910 BSF
- Stories: Multi-story layout supporting both office and service use
- Units: 20
- Year Built: Not specified but indicative of stable 20th-century construction
Investment Highlights:
- Opportunity Zone for nonprofit or user-driven occupancy
- Flexible interior layout to accommodate a variety of service operations
- Strong long-term value in one of Manhattan’s most stable commercial corridors
Market Strategy and Positioning
At the time of sale, the Upper East Side remained a highly coveted corridor for institutions, small businesses, and nonprofits alike—thanks to its stable demographics, safe streets, and proximity to medical and educational institutions. Bob’s strategic positioning of the asset as an ideal user opportunity allowed the buyer to avoid bidding wars and instead focus on securing the right long-term location.
User-driven properties in Manhattan rarely trade off-market with such favorable terms, which underscores the strategic guidance and market knowledge Bob brings to unique assignments.
Neighborhood Overview
The Upper East Side, and specifically the East 60s, offers a unique blend of charm, accessibility, and institutional presence. Known for its tree-lined blocks, historic co-ops, and medical and nonprofit corridors, this micro-neighborhood draws a steady stream of user and service-based buyers.
Neighborhood Highlights:
- Walking distance to Roosevelt Island Tramway and Queensboro Bridge
- Nearby institutions: Weill Cornell Medical Center, Rockefeller University
- Close to major retail hubs on Lexington and 3rd Avenue
- Easy crosstown access via the FDR Drive and 59th Street Bridge
With a mix of medical offices, community services, and retail storefronts, this stretch of the Upper East Side supports long-term stability and mission-aligned use, making 307 East 60th Street a fitting choice for Hospital Chaplaincy Inc.
Conclusion
The sale of 307 East 60th Street exemplifies Bob Knakal’s ability to match niche buyers with under-the-radar opportunities. With his deep-rooted knowledge of user sales, zoning, and nonprofit needs, Bob delivered a win-win result—providing the buyer with a tailored site and the seller with a successful exit at a fair market value.
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Frequently Asked Questions
Q1: What type of buyer acquired 307 East 60th Street?
A nonprofit organization, Hospital Chaplaincy Inc., acquired the building for long-term user occupancy.
Q2: How large is the property?
The property has approximately 8,910 buildable square feet.
Q3: Is the property located near public transportation?
Yes, it is near the Roosevelt Island Tramway, several subway lines, and the Queensboro Bridge, making it highly accessible.
Q4: What made the property attractive to the buyer?
Its central Upper East Side location, commercial zoning, and flexible layout made it ideal for nonprofit and service-based operations.
