PCSB Bank Provides $4.45M Loan For Mixed-Use Property At 534 East 14th Street In Alphabet City, East Village
534 E 14th St, New York, NY 10009, USA
$4,450,000
$6,146/SF
Building Size
724 SF
Asset Type
Mixed-use
Closing
Mar 23, 2020
AI
The mixed-use property located at 534 East 14th Street in Alphabet City, East Village has been involved in a closed transaction. The property is owned by Albert Dweck, who represents Duke Properties. The loan for this transaction was provided by PCSB Bank, with a total amount of $4,450,000. The property encompasses a total area of 7,246 square feet and consists of 15 residential units (14 studios and 1 one-bedroom unit), as well as 2 ground floor retail units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,450,000
- Square Footage: 7,246
- Units: 15 (14 studios, 1 one-bedroom)
Albert Dweck, representing Duke Properties, acted as the owner/landlord in this transaction. The loan was provided by PCSB Bank.
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
3.56%
Cash-on-Cash
-1.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93