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308 East 78th Street

Alex Rabin And David Gomez Of PEAK Capital And Pamera Real Estate Partners Acquire Mixed-Use Property For $14.6M
SOLDMixed-use

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

HPNY
HPNYLender

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

Loading comparables…

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