.avif)
Successful Sale of 235 East 58th Street in Midtown East, Manhattan
Bob Knakal successfully brokered the sale of 235 East 58th Street, a user-occupied retail building in Midtown East, Manhattan. The transaction, which closed on December 8, 1988, marks the second time Bob has sold this property—initially to the current seller, Dr. Edward Soufer, and now on behalf of him.
This repeat engagement underscores the client’s trust in Bob’s expertise and track record in the neighborhood. With a compact footprint and highly sought-after street-level retail exposure, the building represented a prime opportunity for user-ownership in one of Manhattan’s most active commercial corridors.
User Building Sales - For the complete list click here User Buildings
Sale Details
Bob’s strategic outreach and deep market knowledge resulted in a successful deal at $1,500,000 for the 1,680-square-foot property—equating to $892.86 per square foot.
- Sale Price: $1,500,000
- Price per SF/BSF: $892.86
- Buyer: Edwin W. Bitter (Silk Surplus)
- Seller: Dr. Edward Soufer
- Seller Type: Private Owner
- Sale Date: December 8, 1988
Key Highlights:
- Repeat sale handled by Bob Knakal
- Prime user-retail building in Midtown East
- High price per square foot secured
- Proven local track record and block expertise
Property Details
Located midblock on East 58th Street between Second and Third Avenues, the property sits in the heart of Midtown East—a submarket known for its density of office buildings, high pedestrian foot traffic, and accessibility to mass transit.
Full Address: 235 East 58th Street, New York, NY 10022
Zoning: Commercial (specific zoning not disclosed)
Submarket: Midtown East
Historic District: Not applicable
Key Property Information:
- Year Built: Unknown
- Building Size: 1,680 square feet
- Stories: Single-story retail structure
- Asset Class: Retail, User
- Lot Size: Not disclosed
- Frontage: Standard midblock frontage
Market Strategy and Positioning
In a retail-heavy corridor like Midtown East, user-owners often seek ground-floor opportunities in areas with stable foot traffic and commercial continuity. Bob Knakal targeted user-buyers with specific operational needs that aligned with the location's profile. His in-depth neighborhood knowledge and reputation on the block helped drive competitive interest and ultimately a top-market price.
235 East 58th Street fits a growing trend in Manhattan’s urban retail landscape—user-buyers seeking long-term stability through ownership rather than fluctuating lease rates in prime locations.
Neighborhood Overview
Midtown East is one of Manhattan’s most established commercial districts, with a mix of corporate office towers, boutique retailers, medical offices, and dining options. Its proximity to the Upper East Side and seamless access to the Lexington Avenue subway lines make it an enduring favorite for both users and investors.
Neighborhood Highlights:
- Minutes from Bloomingdale’s and the Queensboro Bridge
- Walking distance to multiple subway lines (N/R/W, E/M, 4/5/6)
- Surrounded by top medical offices, salons, and specialty retail
- Close proximity to Sutton Place and Turtle Bay residential pockets
This dynamic combination of residential and commercial density supports steady demand for small-format, owner-occupied retail buildings like 235 East 58th Street.
Conclusion
The successful sale of 235 East 58th Street is a testament to Bob Knakal’s long-term client relationships and local market dominance. By leveraging prior transaction experience and recent block activity, Bob ensured an exceptional outcome for Dr. Edward Soufer, securing a motivated user-buyer at a premium price.
This deal also highlights the continued strength of the Midtown East submarket for retail users seeking permanent ownership in a high-footfall corridor.
Testimonial
“Bob Knakal sold 235 East 58th Street to me so when I wanted to sell it, he was the natural choice. That, coupled with the fact that he has sold several buildings on the block recently, gave me a lot of confidence. Bob worked hard to find a user buyer who paid me a great price. I am very happy with the results.”
— Dr. Edward Soufer, Former Owner of 235 East 58th Street
Learn More About New York Real Estate
Explore our exclusive online magazine to discover remarkable New York real estate deals and Success Stories from the city and surrounding areas.
Frequently Asked Questions
Q1: What type of property is 235 East 58th Street?
It is a user-occupied retail building located in Midtown East, Manhattan.
Q2: How much was 235 East 58th Street sold for?
The building sold for $1,500,000.
Q3: What is the square footage of the property?
The total building size is 1,680 square feet.
Q4: What made this property appealing to the buyer?
Its midblock location in a high-traffic retail corridor made it ideal for a user-buyer looking for ownership stability in a prime Manhattan submarket.
