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1134 1st Avenue

EKT Equities Secures $5.65M Refinance For Newly Renovated Mixed-Use Property In Lenox Hill
FINANCEDMixed-use

EKT Equities Secures $5.65M Refinance For Newly Renovated Mixed-Use Property In Lenox Hill

1134 1st Avenue

$5,650,000

$5,650,000/SF

Building Size

1 SF

Asset Type

Mixed-use

Closing

Mar 28, 2025

AI

The asset involved in this transaction is a newly renovated 8 unit mixed-use property located at 1134 1st Avenue in the Lenox Hill market of Manhattan. The loan amount secured for this property was $5,650,000, which is designated for refinancing purposes under terms that include a two-year term, no prepayment penalty, and non-recourse with full-term interest-only payments.

Summary of transation details:

  • Property Type: Mixed-Use
  • Transaction Amount: $5,650,000
  • Loan Type: Refinance
  • Loan Terms: Two Year Term, No Prepayment Penalty, Non-Recourse, Full Term Interest-Only
  • Landlord: Ali Tabrizi, David Khaloyan & Benjamin Esshaghian - EKT Equities
  • Brokers: Morgan Ben-Moshe, David Oheb, Dorian Aftalion & Max Jacobson - Meridian Capital Group

EKT Equities, the landlord, is a privately held real estate investment firm focused on acquiring, repositioning, and managing high-quality multifamily and commercial properties in New York and Los Angeles. The firm boasts a proven track record of enhancing property value and delivering strong returns across its portfolio. Meridian Capital Group facilitated the transaction, successfully closing in just 32 business days while actively arranging financing for various types of projects across California, New York, and nationwide.

Players

David Oheb
Verified Badge

David Oheb

Meridian Capital Group

Broker

$821.5M

vol

77 deals

Broker

Ali Tabrizi

Landlord

$63.1M

vol

14 deals

Landlord

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

2.81%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93