2109 1st Ave Realty Corp Acquires Mixed-Use Property In New York City With $17.85M Loan
2109 First Avenue, New York, NY, USA
$17,850,000
$399/SF
Building Size
44,733 SF
Asset Type
Mixed-use
Closing
Jul 1, 2020
About this deal
AI
2109 First Avenue & 339 East 108th Street, a mixed-use property with 44,733 square feet, was recently involved in a closed transaction. The property consists of 66 multifamily units and 7,497 square feet of retail space. The transaction date was 7/2/2020.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $17,850,000
- Address: 2109 First Avenue & 339 East 108th Street
- Size: 44,733 square feet
- Units: 66 multifamily units + 7,497 square feet of retail space
Metropolitan Commercial Bank provided a loan amount of $17,850,000 for this transaction. The landlord of the property is 2109 1st Ave Realty Corp.
The deal was facilitated by brokers Steven Sperandio and Dylan Kane of B6 Real Estate.
Players
Fonda 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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93