Lawrence Movtady's MOVCAP Secures $8.8M Loan For Mixed-Use Property At 105-109 First Avenue, East Village

The property involved in this transaction is a mixed-use asset located at 105-109 First Avenue in the East Village. The acquisition amount for this property was $13,750,000, with the loan amount being $8,800,000. The loan type for this transaction is an acquisition loan, with the terms set at 5.40% interest rate. The loan is fixed for five years, followed by one year of interest-only payments, and then a 30-year amortization period.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $13,750,000
• Loan Amount: $8,800,000
• Loan Type: Acquisition
• Loan Terms: 5.40%, Five Years Fixed, One Year Of Interest Only Payments Followed By A 30 Year Amortization

Lawrence Movtady, the landlord, represented by MOVCAP, facilitated this acquisition. The brokers involved in this transaction were David Oheb and John Bianco from Meridian Capital Group. This marks MOVCAP's 7th Manhattan acquisition in the past 18 months, and they are actively seeking new value-add multifamily and mixed-use opportunities. For more information on how Meridian can add value to your portfolio, please contact David Oheb at 212-612-0193 or via email at [email protected].