Read the Full Article on Traded - Click Here
BKREA represented the $9.45 million sale of 11 East 78th Street, a 16-unit multifamily property located on Manhattan's Upper East Side. The property was acquired by the Dalmazio family from the Friedman family, marking a notable transaction in one of New York City's most established residential neighborhoods.
The 8,234-square-foot property traded for approximately $1,147 per square foot, with the transaction closing on May 12, 2026. Bob Knakal of BKREA and Tom Brady of Douglas Elliman represented the transaction. Notably, the property had not traded since 1947, making the sale a rare opportunity to transfer ownership of a long-held Upper East Side asset.
The property sold for $9.45 million, reflecting continued investor interest in multifamily assets in prime Manhattan residential neighborhoods.
Situated at 11 East 78th Street, the property benefits from its location in a prestigious residential district known for its established housing stock, neighborhood amenities, and proximity to Central Park.
The building contains 16 residential units across approximately 8,234 square feet, offering an established multifamily investment opportunity.
The reported sale price equates to approximately $1,147 per square foot, providing a transaction benchmark for comparable Upper East Side properties.
The property had not traded since 1947. Its sale highlights the potential opportunities that arise when long-held family-owned real estate assets enter the market.
Bob Knakal of BKREA and Tom Brady of Douglas Elliman represented the transaction, combining investment sales experience with market knowledge to facilitate the transfer.
The sale of 11 East 78th Street highlights the enduring appeal of well-located multifamily properties on Manhattan's Upper East Side. Long-held assets can present unique opportunities for buyers seeking established residential properties in supply-constrained neighborhoods.
The transaction also underscores the importance of understanding a property's ownership history, unit count, location, and comparable sales when evaluating multifamily investment opportunities.
Where is 11 East 78th Street located?
The property is located on the Upper East Side of Manhattan, a well-established residential neighborhood near Central Park and Madison Avenue.
How much did 11 East 78th Street sell for?
The multifamily property sold for $9.45 million, or approximately $1,147 per square foot.
Who purchased the property?
The Dalmazio family acquired the property from the Friedman family.
How large is the building?
The property contains approximately 8,234 square feet and 16 residential units.
Who represented the transaction?
Bob Knakal of BKREA and Tom Brady of Douglas Elliman represented the transaction.
Why is this sale notable?
According to Traded, the property had not changed hands since 1947, making the 2026 transaction a rare ownership transition for a long-held Upper East Side multifamily asset.
Get tailored industry and listing news, Map Room, and Bob Knakal's insights in your inbox!
Follow us on
