Ryan Serhant sells Bob Knakal’s Park Avenue apartment

CRE vet appears to pick up small profit in Macklowe-owned building

Ryan Serhant Sells Bob Knakal’s Park Avenue Apartment
737 Park Ave. with Bob Knakal, (L) Harry Macklowe and (R) Ryan Serhant (Google Maps, Getty)

He’s got a knack for making deals.

Bob Knakal’s Park Avenue apartment, listed for $13.45 million, is in contract, according to the New York Post. The buyer is reportedly a Hong Kong businessman paying close to the asking price. If that’s the case, the commercial real estate giant will have made a profit in a Harry Macklowe-owned building that has seen past deals struggle to meet value expectations.

Ryan Serhant and Kayla Lee of Serhant had the listing. 

Knakal bought the 4,700-square-foot unit on the 11th-floor for $12.9 million in 2015. The smart-wired apartment features five bedrooms and 7.5 bathrooms, a private elevator entrance, high ceilings and a 1,000-square-foot bedroom suite, with two baths and three walk-in closets.

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Macklowe bought the rental building in 2011 for $360 million and converted it into condos. But at least some of its 103 units have not appreciated, thanks in part to ceilings that never reached their nine-foot goal. 

Last month, Richard Friedman, chairman of the asset management division at Goldman Sachs, and his wife Susan, bought a unit that had been on the market since 2015 for $11.2 million, despite an initial ask of $22.5 million. The sellers, who renovated the apartment, bought it in 2014 for $17.4 million. Serhant, Lee and Jennifer Alese had the listing, according to the Post.

Knakal, a mainstay in New York real estate, has closed more than 2,000 deals at more than $20 billion in volume. He bought his Park Avenue apartment the year after he and Paul Massey sold their eponymous brokerage to Cushman & Wakefield for $100 million. 

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