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534 E 14th St, New York, NY...

PCSB Bank Provides $4.45M Loan For Mixed-Use Property At 534 East 14th Street In Alphabet City, East Village
FINANCEDMixed-use

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

Brad Domenico

Cushman & Wakefield

Broker

$3.7B

vol

135 deals

Broker
PCSB Bank
PCSB BankLender

Albert Dweck

Duke Properties

Landlord

$21.9M

vol

9 deals

Landlord

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