First Republic Bank Provides $5.84M Acquisition Loan For Mixed-Use Property In East Village
159 1st Avenue, New York, NY 10003, USA
$8,850,000
$534/SF
Building Size
16,560 SF
Asset Type
Mixed-use
Closing
Nov 1, 2020
About this deal
AI
Located in the East Village, the mixed-use property at 341 & 437 East 9th Street has been recently involved in a closed transaction. The property spans approximately 15,000 square feet and is a notable asset in the area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $5,840,000
- Market: East Village
- Loan Type: Acquisition
The loan for this transaction was provided by First Republic Bank. The landlord of the property is Alex Jaehek. Facilitating the deal, Michael Lee from HKS Real Estate Advisors represented the buyer as the broker. The acquisition loan amount was $5,840,000.
On the Map
$8,850,000
$534/SF
Mixed-use
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Players
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
1.79%
Cash-on-Cash
-0.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93