Ryan Lewis Of ERG Commercial Real Estate Secures $3M Refinance For Mixed-Use Asset In Alphabet City
79 Avenue A
$3,000,000
$551/SF
Building Size
5,443 SF
Asset Type
Mixed-use
Closing
Jul 15, 2025
AI
The property involved in the transaction is located at 79 Avenue A in Alphabet City, featuring a mixed-use asset that spans 5,443 square feet. The loan secured for this property amounts to $3,000,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 79 Avenue A
- Market: Alphabet City
- Broker: Ryan Lewis - ERG Commercial Real Estate
- Asset Details: Six apartments and two long-term retail tenants
Ryan Lewis from ERG Commercial Real Estate played a significant role in securing the refinancing for the property at 79 Avenue A, facilitating the financial aspects of the 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93