Reginald White & Rhianna White Acquire Multifamily Property On West 78th Street For $5.6M

Located in the desirable Upper West Side market, the multifamily property at 306 West 78th Street recently changed hands in a closed transaction. The property, consisting of 8 units, spans 5,648 square feet. It was sold by Robert Neil, while the buyers were Reginald White and Rhianna White. The deal was facilitated by the buyer's representative, Kristi Iagulli, from Oxford Property Group, and the seller's representative, Richard Pretsfelder, from Leslie J. Garfield. The sale price for the property was $5,600,000, slightly below the initial asking price of $5,995,000. The per unit price was $700,000, and the price per square foot was $991. The transaction represents a 2% capitalization rate.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $5,600,000
• Address: 306 West 78th Street
• Market: Upper West Side

The buyers, Reginald White and Rhianna White, seized this investment opportunity to acquire the multifamily property on the Upper West Side. On the other side of the deal, Robert Neil made the decision to sell. Kristi Iagulli, representing the buyers, is associated with Oxford Property Group, while Richard Pretsfelder, representing the seller, is affiliated with Leslie J. Garfield. With a successful transaction, the property changed hands and now joins the portfolio of the new owners.