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124 West 78th Street

Updated Oct 29, 2024

Michael Calano's Calano & Calano Realty Corp. Acquires Multifamily Property On Upper West Side
SOLDMultiFamily

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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Deal FAQ

About $76 per square foot on a published $4.5M for 58,670 square feet (2020).

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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

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