Alex Rabin And David Gomez Of PEAK Capital And Pamera Real Estate Partners Acquire Mixed-Use Property For $14.6M
308 East 78th Street
$14,600,000
$614/SF
Building Size
23,770 SF
Asset Type
Mixed-use
Closing
Jan 17, 2025
AI
308 East 78th Street is a mixed-use property located in the Upper East Side, featuring a sale price of $14,600,000. The asset encompasses a total square footage of 23,770 and is positioned within a market known for its diverse real estate offerings. The property has a price per square foot of $614.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $14,600,000
- Buyer: Alex Rabin & David Gomez
- Buyer’s Companies: PEAK Capital & Pamera Real Estate Partners
- Seller: Abram Orwasher
- Buyer’s Counsel: Anderson Law
- Square Footage: 23,770
- Price per Square Foot: $614
- Note from Buyer: 39-unit mixed-use property (37 residential / 2 commercial) offering 80%+ FM status and 50-feet of frontage along 78th Street between 1st and 2nd Avenues.
The buyers, Alex Rabin and David Gomez, represent PEAK Capital and Pamera Real Estate Partners, indicating their involvement in the strategic acquisition of this property. The deal involved the legal expertise of Anderson Law, ensuring that all aspects of the transaction were thoroughly managed, while the seller in this instance was Abram Orwasher.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93