A mixed-use building at 415 East 78th Street located between First and York Avenues on Manhattan’s Upper East Side was sold in an all cash transaction valued at $2,310,000.
This four-story walk-up building is approximately 6,216 square feet and sits on a 25’ x 102.17’ lot. It contains sixteen studio units, all of which are Rent Stabilized. There was also one owner occupied unit, in addition to 4,000 square feet of air rights. The sale price corresponded to $371.62 per square foot, a 6.3% cap rate, and $144,375 per unit.
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Neighborhoods: Upper East Side