Lancewood Capital Provides $2M Bridge Loan For Mixed-Use Property In East Village
100 2nd Avenue, New York, NY 10003, USA
$2,000,000
$303/SF
Building Size
6,581 SF
Asset Type
Mixed-use
Closing
Jan 31, 2019
About this deal
AI
Located at 100 2nd Ave in the East Village, this mixed-use property was involved in a closed transaction. The loan obtained for this deal was from Lancewood Capital, with a loan amount of $2 million. The loan terms were a 1-year bridge loan. The property spans a total of 6,581 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2M
- Date: 02/01/2019
- Address: 100 2nd Ave
- Market: East Village
- Lender: Lancewood Capital
- Landlord: Mo Hazim
- Brokers: The Cornerstone Group - Russell Nova, Alex Leykind & Igor Zakh
The deal was facilitated by The Cornerstone Group, represented by brokers Russell Nova, Alex Leykind, and Igor Zakh. The individuals involved in this transaction include Justin Godner and Mo Hazim as well. No additional information regarding the property or the transaction is available.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93