Mike Lavian Acquires Mixed-use Property In EV For $7.4M
113 East 2nd Street, New York, NY 10009
$7,400,000
$1,058/SF
Building Size
6,993 SF
Asset Type
Mixed-use
Closing
Feb 3, 2019
AI
Located at 113 E. 2nd St. in the East Village, this mixed-use property was recently sold in a bankruptcy sale. The transaction took place on February 4, 2019, and the seller was Phil Hartman and Doris Kornish. The buyer of the property is Mike Lavian. The property spans 6,993 square feet and is situated in the dynamic EV market. The sale price for this property was $7,400,000, resulting in a price per square foot of $1,058.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $7,400,000
- Square Footage: 6,993
- Address: 113 E. 2nd St.
- Market: East Village (EV)
The sale of this property was facilitated by two brokers, Shlomo Gelernter and Moshe Herskovich from esengroup, as well as Nick Gavin from Compass. They played a crucial role in bringing together the buyer and seller for this transaction.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93