11 East 78th Street
This is a highly illiquid, generational asset trading for the first time in 79 years in the Upper East Side, one of Manhattan's most resilient and supply-constrained multifamily submarkets, lending strong locational credibility to the deal. At $1,147 PPSF and a 5.33% cap rate, the pricing is broadly in line with Upper East Side multifamily comps, though the DSCR of 0.94x signals that the property does not cover debt service at standard leverage, representing a meaningful underwriting risk for any lender. The 16-unit, pre-war asset is likely subject to rent stabilization on some or all units, which caps near-term income growth but also provides occupancy stability and supports the cap rate as a going-in yield. Broker representation by Bob Knakal, one of the most prolific NYC investment sales brokers by deal count and volume, adds credibility to pricing and process integrity. The relatively unknown buyer profile and below-1.0x DSCR are the primary credit concerns, and a lender would need strong borrower liquidity and a credible business plan to get comfortable with this deal.
Deal Stats
Parties
Seller / Landlord
Friedman family
The Friedman Family held this Upper East Side multifamily property for 79 years following their 1947 acquisition and 1948 conversion, suggesting a long-term, conservative ownership approach typical of generational NYC real estate families with deep roots in the borough's residential market.
Buyer / Tenant
Dalmazio family
The Dalmazio Family appears to be a private family investor acquiring Upper East Side multifamily assets; limited public transaction history suggests this may be one of their earlier or infrequent NYC real estate purchases, consistent with a wealth-preservation strategy rather than an active development platform.
Score Analysis
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Resolve outstanding violations or liens
Active violations significantly depress the score; clearing them has high impact.
Provide sponsor financial statements
Documented liquidity and net worth reduce lender risk perception.
Submit a detailed business plan
A clear repositioning or hold strategy demonstrates deal viability.
Identify institutional co-lenders or equity partners
Reputable co-investors signal deal quality to underwriters.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Multifamily Sale 11 East 78th Street Dalmazio Family Purchases Multifamily Property From Friedman Family For $9.45 Million SOLD $9,450,000 MultiFamily 8,234 SF Sold 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $1,147 Total Square Footage: Transaction Type: 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. See More Players All Brokers Robert Knakal 64 deals $3.2B volume (907) 509-9501 BROKER Tom Brady 9 deals $48.4M volume Details Deal Summary IMAGE: Bob Knakal & Tom Brady DATE: 5/13/2026 ADDRESS: 11 East 78th Street MARKET: Upper East Side ASSET TYPE: Multifamily BUYER: Dalmazio family SELLER: Friedman family BROKERS: Tom Brady (@TVBNYC) & Bob Knakal (@BobKnakalNYC) - BK Real Estate Advisors (@BKREA_NYC) SALE PRICE: $9,450,000 UNITS: 16 ~ PPU: $590,625 SF: 8,234 ~ PPSF: $1,147 NOTE FROM BROKER: First time trading in 79 years. Henry Cook sold the lot in 1899. The single-family mansion was completed in 1900, sold in 1947 and converted by the seller into a multifamily in 1948. Email New York | @tradedny Contact Get in touch with the broker you want Select Brokers Tom Brady, Robert (Bob) Knakal Name Phone (optional) Message I'm an agent These are similar buyers of MultiFamily properties in this price range based o Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Top Markets for Multifamily Investment Report Fall 2025 Download Report Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $504,000.00 Debt Service Coverage Ratio (DSCR) 0.94x DSCR below 1.0x - deal does not cover debt service Cap Rate 5.33% Cash Flow (Annual) -$33,573.85 Cash-on-Cash Return -1.27% Monthly Debt Service $44,797.82 Annual Debt Service $537,573.85 Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use