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.