Dalmazio Family Purchases Multifamily Property From Friedman Family For $9.45 Million

The property asset involved in this transaction is a multifamily unit located at 11 East 78th Street in the Upper East Side market. The sale price of the property was $9,450,000, which comprises 16 units and a total square footage of 8,234. The price per unit (PPU) stands at $590,625, while the price per square foot (PPSF) is calculated at $1,147.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,450,000
• Units: 16
• Square Footage: 8,234
• Price per Unit: $590,625
• Price per Square Foot: $1,147
• Buyer: Dalmazio family
• Seller: Friedman family
• Broker Representation: Tom Brady & Bob Knakal - BK Real Estate Advisors

This transaction marks the first time the property has traded in 79 years. Historically, the lot was sold by Henry Cook in 1899, and the single-family mansion was completed in 1900. It was sold again in 1947 and subsequently converted into a multifamily property by the seller in 1948.