.avif)
Successful Sale of 60-62 Thompson Street in West Village, Manhattan
Bob Knakal successfully arranged the sale of 60-62 Thompson Street, a prime development site located at the edge of SoHo and the West Village in Manhattan. The transaction, which closed on April 2, 1998, totaled $8,300,000.
Representing the seller, Bob Knakal demonstrated strategic market expertise and a deep understanding of Lower Manhattan’s development potential. The site stood out with its 50-foot double frontage and close proximity to one of Manhattan’s most vibrant corridors.
Development Site Sales - For the complete list click here Development Sites
Sale Details
This development property commanded strong interest due to its scale and location, ultimately selling for $8,300,000—reflecting a price per buildable square foot (BSF) of $197.62.
- Buyer: Pomeranc Group
- Seller: Susan Ellenberg
- Asset Class: Development
- Date Closed: April 2, 1998
Key Transaction Highlights:
- 50 feet of frontage on Thompson Street
- Located in one of Manhattan’s most desirable development corridors
- Potential for residential, boutique hotel, or mixed-use repositioning
- Delivered as a vacant 1-story commercial building on two lots
Property Details
Located between Broome and Spring Streets, 60-62 Thompson Street sits at the intersection of SoHo’s cast-iron charm and the West Village’s classic character. Its block-and-lot configuration—Block 488, Lots 3 and 5—spans approximately 4,700 square feet and is built out to a 42,000 BSF potential.
Full Address: 60-62 Thompson Street, New York, NY 10012
Lot Dimensions: 50 ft x 94 ft
Lot Size: ~4,700 SF
Buildable SF: 42,000 BSF
Stories: 1
Buildings on Lot: 2
Investment Highlights:
- Rare large-scale site with flexible development potential
- Ideal for boutique residential or hotel conversion
- Borderline between SoHo’s retail corridors and the residential charm of the Village
- Delivered vacant, expediting the redevelopment process
Market Strategy and Positioning
At the time of sale, demand for downtown Manhattan development sites was surging. The unique location of 60-62 Thompson Street—straddling two of the city’s most sought-after submarkets—offered unmatched flexibility.
Bob Knakal positioned the site as a best-in-class opportunity for boutique developers looking to create high-end product in a neighborhood that blends residential serenity with retail vibrancy. By leveraging deep neighborhood knowledge and market insight, the property was marketed as a trophy development play.
Neighborhood Overview: West Village
The West Village has long been regarded as one of New York City's most iconic and beloved neighborhoods. Known for its tree-lined streets, preserved architecture, and cultural cachet, it blends classic charm with modern luxury. Key nearby attractions include:
- Hudson River Park: Just a short walk west, this scenic waterfront park stretches for miles and includes piers, bike paths, and green space perfect for recreation or relaxation.
- SoHo Retail District: Directly south of the property, SoHo’s globally recognized shopping and gallery district includes brands like Prada, Chanel, and Apple, alongside local boutiques and cafes.
- Washington Square Park: A centerpiece of downtown life, the park serves as a gathering space for NYU students, artists, and musicians, offering both cultural flair and community energy.
- Bleecker Street Corridor: Known for its historic storefronts, upscale retail, and dining destinations, Bleecker Street remains a destination for locals and tourists alike.
The area’s timeless appeal continues to drive real estate value—whether for luxury residential, high-end commercial, or boutique hospitality projects.
Conclusion
The sale of 60-62 Thompson Street showcases the strength of Bob Knakal’s relationships, neighborhood expertise, and strategic positioning of development opportunities in Manhattan’s most competitive markets. With its prime location, generous zoning, and vacant delivery, the property presented a rare opportunity that was expertly executed by the team.
Testimonial
“Bob Knakal has been a great friend and our ‘go-to’ sales broker in New York City. His integrity is beyond question and he is the quintessential professional. We highly recommend him.”
— Harvey Clarke, AJ Clarke Management
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 was sold at 60-62 Thompson Street?
This was a development site comprising two lots and a single-story commercial building, delivered vacant and ideal for redevelopment into residential, mixed-use, or hospitality use.
Q2: How large is the development potential for this property?
The property has a buildable square footage (BSF) of approximately 42,000, providing significant upside for vertical expansion or creative use adaptation.
Q3: What makes this property’s location valuable?
It sits at the crossroads of SoHo and the West Village, offering dual appeal—access to retail corridors and a residential atmosphere. Its location near major parks and cultural landmarks adds to its allure.
Q4: Was the building income-producing at the time of sale?
No, the property was delivered vacant, which added flexibility and speed for potential redevelopment without the need to navigate existing tenant issues.
Q5: Who was the buyer of this property?
The Pomeranc Group, known for boutique developments and hospitality projects, purchased the site with an eye toward maximizing its prime location and development potential.
Q6: Is this site within a historic district or subject to zoning restrictions?
While located near the SoHo Cast-Iron Historic District, this particular site allowed for flexible development use, making it more attractive for adaptive redevelopment.
