Movcap RE And Kris Eiamsakulrat Acquire Mixed-Use Property In NoLiTa & LES For $13.2M

The mixed-use property located at 217 & 51 E. Houston St in NoLiTa & LES was involved in a recent transaction. The loan amount for this transaction was $9,720,000, covering 74% of the purchase price of $13,200,000. The loan was provided by New York Community Bank, with a 3.25% interest rate. The loan terms include a 5-year fixed period, followed by 2 years of interest-only payments, and a 30-year amortization period. The borrowers involved in this transaction are Lawrence Movtady from Movcap RE, Max Koshkerman, Kris Eiamsakulrat. The loan was facilitated by David Oheb and Max Jacobson from Meridian Capital Group.

Summary of transaction details

• Property Type: Mixed-Use
• Transaction Amount: $9,720,000 Loan on $13,200,000 Purchase (74% LTPP)
• Lender: New York Community Bank
• Borrowers: Lawrence Movtady - Movcap RE, Max Koshkerman, Kris Eiamsakulrat
• Broker: David Oheb and Max Jacobson from Meridian Capital Group
• Loan Terms: 3.25% interest rate, 5 years fixed, 2 years of interest only payments followed by a 30-year amortization
• Loan Type: Acquisition Loan
• Note from Borrower: Movcap is actively seeking new acquisition opportunities throughout New York City. Please contact [email protected] or @lawrencemov with any opportunities.
• Note from Meridian Capital Group: Meridian Capital Group is America’s most active dealmaker, having closed $40 billion in financing in 2020 with more than 250 unique lenders across all property types. For more information on how Meridian can add value to your portfolio please contact David Oheb at 212-612-0193 or [email protected]

These key individuals and companies played significant roles in the transaction. Lawrence Movtady, representing Movcap RE, and Max Koshkerman, Kris Eiamsakulrat were the borrowers involved in this acquisition loan. David Oheb and Max Jacobson from Meridian Capital Group acted as the brokers, facilitating the loan between the borrowers and New York Community Bank.