Lawrence Movtady's MOVCAP Acquires Mixed-Use Property In Manhattan For $13.75M, Brokers: Brandon Polakoff, Ryan McGuirl & Michele Roderick
SOLD
$13,750,000
+ 1
National
See Similar DealsMixed-use20,523 SF
Sold 05/01/2023
SOLD
Lawrence Movtady's MOVCAP Acquires Mixed-Use Property In Manhattan For $13.75M, Brokers: Brandon Polakoff, Ryan McGuirl & Michele Roderick
105-109 1st Avenue, New York, New York 10003
See Similar DealsMixed-use20,523 SF
Sold 05/01/2023
+ 1
Summary
Asset Type:Mixed-use
Price Per Square Foot:$670
Total Square Footage:20,523 SF
Transaction Type:Sale
The mixed-use property located at 105-109 1st Avenue in Manhattan has been sold for a total price of $13,750,000. Spanning across 20,523 square feet, this property offers a range of uses and opportunities.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $13,750,000
- Address: 105-109 1st Avenue
- Market: Manhattan
The buyer of this property is Lawrence Movtady from MOVCAP, who was represented by Brandon Polakoff and Ryan McGuirl from Avison Young, as well as Michele Roderick from Elegran Real Estate. These brokers played a crucial role in facilitating the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$733,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$48,850.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,182.01
Annual Debt Service$782,184.18
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