Omnibuild Acquires Mixed-Use Property On 347 West 71st Street From Malasu Cher For $8.1M
347 West 71st Street
$8,100,000
$1,685/SF
Building Size
4,806 SF
Asset Type
Mixed-use
Closing
Apr 30, 2026
AI
This mixed-use property located at 347 West 71st Street in the Upper West Side has been sold for $8,100,000. The asset encompasses a total area of 4,806 square feet, translating to a price per square foot of $1,685.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $8,100,000
- Sale Date: 5/1/2026
- Buyer: Omnibuild
- Seller: Malasu Cher
- Brokers: Nathan Horne, Gregg Haft & May Ling Stella - Compass
Nathan Horne, Gregg Haft, and May Ling Stella facilitated this transaction, representing the interests of the buyer and seller. The transaction involved a unique approach to navigating challenges related to the historic district's regulations, indicating the brokers' proactive engagement with the LPC and their collaboration with experts for potential solutions.
Players
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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93