OmniBuild Acquires 349 West 71st Street Multifamily Building From Richie Bernd For $5.7M

The transaction involved a multifamily townhouse located at 349 West 71st Street in Manhattan, consisting of six residential units. The property sold for $5,700,000, spanning a total area of 6,096 square feet, which translates to a price per unit of $950,000 and a price per square foot of $935.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,700,000
• Units: 6
• Square Footage: 6,096
• Price Per Unit: $950,000
• Price Per Square Foot: $935
• Buyer: OmniBuild
• Seller: Richie Bernd
• Brokers: Nathan Horne, Gregg Haft & May Ling Stella - Compass

The brokers played a critical role in facilitating the complex deal, particularly in navigating tenant negotiations, vacancy issues, and property delivery terms. Following the closing, there were two tenants remaining in the property, and the brokers negotiated escrow terms to expedite the transaction without requiring full vacancy beforehand. This sale, following a previous transaction of $8.1M for neighboring properties, enhances the overall total closings in the area.