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306 West 78th Street, Manha...

Updated Dec 19, 2023

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

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

306 West 78th Street, Manhattan, New York, NY, USA

$5,600,000

$991/SF

Building Size

5,646 SF

Asset Type

MultiFamily

Closing

Jul 7, 2021

About this deal

AI

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.

On the Map

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$5,600,000

$991/SF

MultiFamily

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Players

Richard Pretsfelder

Leslie Garfield

Broker

$75.4M

vol

10 deals

Broker

Reginald White

Buyer

$11.3M

vol

2 deals

Buyer
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $991 per square foot on a published $5.6M for 5,646 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.83%

Cash-on-Cash

-0.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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