Updated Oct 29, 2024
Michael Calano's Calano & Calano Realty Corp. Acquires Multifamily Property On Upper West Side
124 West 78th Street
$4,500,000
$76/SF
Building Size
58,670 SF
Asset Type
MultiFamily
Closing
Aug 6, 2020
About this deal
AI
The sale of a multifamily property located at 124 West 78th Street in the Upper West Side has been completed. The property, with a zoning classification of R8B, offers a prime investment opportunity in a desirable neighborhood.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: Not specified
- Address: 124 West 78th Street
- Market: Upper West Side
- Zoning: R8B
Michael Calano of Calano & Calano Realty Corp. acted as the buyer of the property. The seller in this transaction was the McDonnell Family. The deal was facilitated by Hall Oster, Paul Smadbeck, Teddy Galligan, Conrad Martin, and James Manning, who represented the seller in the transaction. The transaction was closed on 08/07/2020, marking a successful deal in the Upper West Side market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93