Meridian Capital Group Brokers $5.12M Acquisition Loan For Mixed-use Property In East Village, Manhattan
171 1st Avenue
$5,120,000
$479/SF
Building Size
10,674 SF
Asset Type
Mixed-use
Closing
Oct 6, 2023
About this deal
AI
Tamir Kazaz, Morris Betesh, and Jack McPhail of Meridian Capital Group represented the parties involved in the acquisition loan transaction for a mixed-use property located at 171 1st Avenue in the East Village, Manhattan. The property consists of four apartments and one commercial restaurant, totaling approximately 10,674 square feet.
Summary of transaction details
- Property Type: Mixed-use (4 Apartments & 1 Commercial Restaurant)
- Transaction Amount: $5,120,000
- Loan Type: Acquisition
The brokers from Meridian Capital Group, Tamir Kazaz, Morris Betesh, and Jack McPhail, played a key role in facilitating the loan process and representing the parties involved in the transaction. Their expertise and negotiation skills contributed to the successful acquisition of the property at 171 1st Avenue.
On the Map
$5,120,000
$479/SF
Mixed-use
View full map
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Visit Jack McPhail to view all their deals.
Browse New York mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.10%
Cash-on-Cash
-0.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93