Joseph E. Fingerman & Nicholas LaMorte Of Peapack Private Bank & Trust Provide $5.7M Loan To Alchemy Ventures
78 East 1st Street
$5,700,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 26, 2026
AI
The property asset involved is a mixed-use building located at 78 East 1st Street in the East Village market. The loan amount secured for the acquisition of this asset is $5,700,000.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $5,700,000
- Lender: Joseph E. Fingerman & Nicholas LaMorte - Peapack Private Bank & Trust
- Landlord: Alchemy Ventures
- Loan Type: Acquisition
The key individuals in this transaction are Joseph E. Fingerman and Nicholas LaMorte, who represent Peapack Private Bank & Trust as the lenders, facilitating the financing for Alchemy Ventures, the landlord involved in this deal.
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
2.78%
Cash-on-Cash
-0.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93