Updated Sep 11, 2026
Sapphire Acquisitions Acquires 126-Unit SRO On Upper West Side For $6.7M
342 West 71st Street
$6,700,000
$195/SF
Building Size
34,312 SF
Asset Type
MultiFamily
Closing
Sep 16, 2022
About this deal
AI
The sale of a multifamily property located at 342 W. 71st St. in the Upper West Side has been completed. The property, a 34,312 square-foot elevatored building with 52' of frontage, was sold for a total price of $6,700,000. The transaction involved Sapphire Acquisitions, represented by Duc Hoang, as the buyer, and Riverside Studios, represented by Tomohiko Shimura, as the seller. The deal was brokered by Michael Ferrara and Alan Stenson from Brax Realty.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,700,000
- Address: 342 W. 71st St.
- Market: Upper West Side
Michael Ferrara and Alan Stenson of Brax Realty successfully brokered this sale, representing both the buyer and the seller. The property consists of 126 units and is classified as a single room occupancy (SRO) building. The sale price per square foot was $195, with each unit selling for an average of $53,174. For more information, visit the Brax Realty website.
On the Map
$6,700,000
$195/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93