W Financial Provides $3.75M Loan For Mixed-Use Property On Upper East Side
1129 Lexington Ave, New York, NY 10075, USA
$3,750,000
$714/SF
Building Size
5,248 SF
Asset Type
Mixed-use
Closing
Nov 28, 2020
About this deal
AI
A mixed-use property located at 1129 Lexington Avenue in the Upper East Side has been sold in a closed transaction. The property spans 5,248 square feet and was purchased for a loan amount of $3,750,000. The transaction was facilitated by W Financial, who served as the lender. The landlord, Mike Kalbo, oversaw the deal. @TeamOheb, represented by David Oheb from Meridian Capital Group, acted as the broker in the transaction.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $3,750,000
- Address: 1129 Lexington Avenue
- Market: Upper East Side
- Square Footage: 5,248
- Lender: W Financial
- Landlord: Mike Kalbo
- Broker: David Oheb - Meridian Capital Group
A new glatt-kosher restaurant is set to occupy the ground floor retail space, adding to the vibrant mix of businesses in the area.
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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93