311 West 78th Street, New York City, NY 10024
Listing Courtesy of Compass
$3,680,000
Potential Rebate: $55,200
Overview
Cash Buyers Only – 5-Unit Limestone with Vacancies & Upside
Ideal for an end-user seeking a home with income or an investor looking for long-term upside.
311 West 78th Street is an 18-foot-wide Renaissance Revival limestone with approx. 5,000 SF across five stories, located just off Riverside Park between West End Avenue and Riverside Drive.
The property is configured as five residential units: three stabilized (Owner’s Duplex, 4th Floor front studio, and 5th Floor studio) and two free market (3rd Floor one-bedroom and 4th Floor rear studio). The Owner’s Duplex and the 4th Floor front studio will be delivered vacant. The 3rd Floor one-bedroom is free market and rented at $6,000/month. The 5th Floor stabilized studio remains occupied.
Owner’s Duplex (Garden & Parlor): Skylit kitchen/dining, 31’ x 19’ garden, 11’ ceilings, original plaster details, and working fireplaces. Delivered vacant.
3rd Floor (Unit 2 – Free Market): One-bedroom with 10’ ceilings, laundry, and working fireplace. Rented at $6,000/month.
4th Floor: Rear studio (free market, terrace, exposed brick, washer/dryer). Front studio (stabilized). Front delivered vacant.
5th Floor (Unit 5 – Stabilized): Studio with rent near market.
Additional features include a full cellar with 7’8” ceilings, updated mechanicals (new boiler, sprinkler, hot water heaters, thermostats), and long-term ownership.
Please Note: This property does not qualify for residential financing. Commercial loans for this asset type are generally unavailable. Cash-only purchase.
Home Features
- •Natural Gas
- •In Unit
- •See Remarks
- •Private Outdoor Space Over 60 Sqft
- •Private Yard
- •High Ceilings
- •Full
Estimated Monthly Payment
$24,288 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$55,200
Monthly savings impact
$153/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listing Courtesy of Reuveni LLC
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Compass
Data Source: TRESTLE #RLS20057727
Price Analysis
Compare average listing prices and value metrics for 311 West 78th Street against the surrounding Upper West Side market.
Average List Price
Price Per SqFt
55.99% Lower
than the Upper West Side price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
Upper West Side
Overview of Upper West Side
The Upper West Side (UWS) is the intellectual and cultural counterpoint to the East Side. Sandwiched between Central Park and Riverside Park, it is known for its brownstones, protected historic districts, and artistic legacy. For buyers seeking Upper West Side Manhattan real estate, it offers a relaxed, leafy, and quintessentially "New York" vibe.
Living in the Upper West Side feels like living in a movie. The streets are wide and lined with trees. As a beloved Manhattan NYC neighborhood, it attracts writers, actors, and families who value space, parks, and Zabar's.
Real Estate & Housing Market
The market for homes for sale in the Upper West Side is robust. It is famous for its pre-war co-ops along Central Park West and Riverside Drive, and its miles of brownstone blocks in between. Newer condos have risen in the low 60s and along Columbus Avenue.
It is a high-demand market because the housing stock is beautiful and protected. You can't build skyscrapers on the brownstone side streets, preserving the light and character.
Lifestyle & Community
The lifestyle on the UWS is casual and community-focused. Neighbors stop to chat at the Sunday landscaped market or while walking dogs in Riverside Park. It feels less formal than the East Side.
Cultural institutions like Lincoln Center and the Museum of Natural History anchor the community, infusing it with art and science.
Transportation & Accessibility
The Upper West Side is served by the 1/2/3 and B/C trains. The express 2/3 makes getting to Times Square or Wall Street incredibly fast.
The West Side Highway provides easy car access for escapes to the Catskills or Jersey.
Parks, Schools & Amenities
You are never more than two blocks from a park. Riverside Park offers sunsets over the Hudson, while Central Park offers the Great Lawn and the Reservoir.
Amenities are iconic: Zabar's, Fairway, Barney Greengrass. The food culture here is legendary. Schools are excellent, contributing to its reputation as a family haven.
Who This Neighborhood Is Best For
The Upper West Side is best for families, dog owners, and creatives who want a beautiful, green, and relaxed neighborhood with deep cultural roots.
