Successful Sale of 195–203 East 4th Street in the East Village, Manhattan
Bob Knakal successfully brokered the sale of a four-building walk-up portfolio located at 195, 199, 201, and 203 East 4th Street in the East Village, one of Manhattan’s most culturally vibrant neighborhoods. The properties were sold for $29,000,000 to Jared Kushner of Kushner Companies, with the seller represented by Ben Shaoul of Meadow Partners. This transaction is a prime example of investor interest in stabilized, income-generating assets in high-demand rental corridors.
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Sale Details
This multifamily portfolio featured a total of 46 residential units across four walk-up buildings, comprising 27,770 square feet of built space. The transaction closed on April 9, 2013, at a blended price of $1,044.29 per square foot.
Key Sale Highlights:
- Sale Price: $29,000,000
- Price per SF: $1,044.29
- Buyer: Jared Kushner, Kushner Companies
- Seller: Ben Shaoul, Meadow Partners
- Seller Type: Developer
- Asset Class: Multifamily – Walk-Up
- Number of Units: 46
- Sale Date: April 9, 2013
- Number of Buildings: 4
- Portfolio Address: 195–203 East 4th Street, New York, NY
Property Details
The East 4th Street portfolio is nestled in the heart of the East Village between Avenue A and Avenue B. With access to Tompkins Square Park, eclectic retail, and major subway lines, the location continues to attract both renters and investors alike.
Investment Highlights:
- Building Type: Walk-up multifamily
- Total Buildings: 4
- Residential Units: 46
- Total SF: 27,770
- Block-through Exposure: Multiple frontage
- Lot Assemblage Potential: Ideal for long-term hold or repositioning
Market Strategy and Positioning
The East Village has experienced consistent growth in both rent levels and asset values over the past decade. Walk-up buildings with multiple contiguous parcels are particularly scarce, making this a high-demand offering. Bob Knakal’s team conducted a tailored outreach campaign that emphasized both the in-place cash flow and long-term repositioning potential, attracting numerous offers and maximizing seller value.
Neighborhood Overview
The East Village is known for its vibrant history, artistic community, and continually rising rental demand. Its walkability, nightlife, and proximity to institutions like NYU have kept it in high demand for investors.
Neighborhood Highlights:
- Near Tompkins Square Park and East River Park
- Home to popular restaurants, cafes, and live music venues
- Strong rental demand from students, young professionals, and long-term residents
- Access to F, J, M, and 6 subway lines within a short walk
Conclusion
The sale of 195–203 East 4th Street showcases Bob Knakal’s ability to market and execute complex multifamily transactions in Manhattan’s most active neighborhoods. By aligning buyer interest with seller goals, the team was able to deliver a highly successful outcome for both parties in a competitive market.
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Frequently Asked Questions
Q1: What type of buildings were included in the East 4th Street sale?
The portfolio consisted of four walk-up residential buildings totaling 46 units.
Q2: What made this East Village portfolio appealing to investors?
Its strong in-place income, walkable location, and future repositioning potential made it a compelling investment.
Q3: How much square footage did the properties include?
Together, the buildings offered a total of 27,770 square feet of residential space.
