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
$13,750,000
$670/SF
Building Size
20,523 SF
Asset Type
Mixed-use
Closing
May 1, 2023
AI
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.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.15%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93