-- BKREA Announces the $16.5 Million Sale of 36 East 12th Street in Greenwich Village
NEW YORK, NY — July 24, 2026 — BKREA is pleased to announce the successful closing of 36 East 12th Street, a premier mixed-use development opportunity located in the heart of Greenwich Village, Manhattan. The transaction closed on July 1, 2026, for $16,500,000.
The property consists of a seven-story commercial building situated on approximately 5,163 square feet of land with 50 feet of frontage along East 12th Street between University Place and Broadway. The offering attracted significant investor interest due to its prime Greenwich Village location, existing income, and long-term redevelopment potential. The site offers flexible zoning that supports residential, commercial, or community facility development, making it a rare opportunity in one of Manhattan's most sought-after neighborhoods.
The transaction was exclusively marketed by Bob Knakal, Faraz Cheema, Ryan Candel and Brennan Lee of BKREA, who represented the seller throughout the sale process.
"This transaction reflects the continued demand for well-located Manhattan development opportunities, particularly in neighborhoods where future supply remains extremely limited," said Faraz Cheema of BKREA. The sale further demonstrates BKREA's ability to generate competitive interest and maximize value for property owners through its specialized seller-only representation and targeted marketing strategy. Additionally, throughout the process, BRKEA advised the sellers to do a C Corp share sale purchase to receive additional retained earnings through tax savings.
The is an office to residential conversion sale. If you're considering selling, we can provide a complimentary valuation of your asset. Whether your property is best suited as an investment or a conversion opportunity, our market expertise and proprietary investment and conversion data help position your asset to achieve maximum value. Reach out to BKREA to learn more.
About the company: BKREA is a New York City commercial real estate brokerage specializing in seller representation for investment sales and development sites. Led by Bob Knakal, the firm combines proprietary market intelligence, property-level research, valuation expertise, and targeted marketing strategies to help owners maximize value when selling commercial real estate throughout New York City.
Contact Info:
Name: Edward Winslow
Email: Send Email
Organization: Broker Opinion of Value
Address: 135 West 36th Street NY NY 10018
Phone: 203-912-7244
Website: https://brokeropinionofvalue.com/
Release ID: 89200663
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