EIS Family Sells East Village Mixed-Use Portfolio For $38M
105-109 1st Avenue, 425 East 6th Street, 543 East 6th Street, 110 East 1st Street & 58-62 2nd Avenue
$38,000,000
$92/SF
Building Size
82,245 SF
Asset Type
Mixed-use
Closing
May 6, 2024
About this deal
AI
The mixed-use property portfolio located at 105-109 1st Ave., 425 & 543 East 6th St., 110 East 1st St. & 58-62 2nd Avenue in East Village, Manhattan was sold for $38,000,000. The total square footage of the portfolio is 82,245, resulting in a price per square foot of $462. The sellers of this property were the EIS Family. The transaction was facilitated by Brandon Polakoff and Ryan McGuirl from Avison Young, along with Michele Roderick from Elegran Real Estate.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $38,000,000
- Market: East Village, Manhattan
- SF: 82,245
Brandon Polakoff and Ryan McGuirl represented Avison Young in the deal, while Michele Roderick was the Elegran Real Estate representative for the transaction.
On the Map
$38,000,000
$92/SF
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.42%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93