FINANCEDDevelopment Site
Ilyas Abayev Of Moonshot Development Secures $22.1M Construction Loan For Development Site In East Village
101 East 9th Street
$22,100,000
$824/SF
Building Size
26,822 SF
Asset Type
Development Site
Closing
Jun 26, 2026
AI
The development site located at 101 East 9th Street in Manhattan's East Village encompasses a square footage of 26,822. This site is part of a mixed-use development that includes a retail component identified as K1. The asset has undergone a financing arrangement replacing a prior loan, signifying significant investment in this urban area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,100,000
- Address: 101 East 9th Street
- Market: East Village, Manhattan
- Lender: Goodman Capital
- Landlord: Ilyas Abayev - Moonshot Development
- Loan Type: Construction
Moonshot Development’s 101 E 9 Owner LLC engaged in the transaction with Goodman Capital’s East Ninth LLC for a construction loan aimed at further developing the retail aspect of their mixed-use project at the specified address, indicating a strategic move to enhance the property’s potential and utility in a dynamic market.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93