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1134 1st Avenue

EKT Equities Acquires Mixed-Use Property On Upper East Side For $5.4M
SOLDMixed-use

EKT Equities Acquires Mixed-Use Property On Upper East Side For $5.4M

1134 1st Avenue

$5,400,000

$552/SF

Building Size

9,775 SF

Asset Type

Mixed-use

Closing

Feb 16, 2024

AI

The property at 1134 1st Avenue in the Upper East Side, a mixed-use asset, was recently involved in a transaction between David Khaloyan of EKT Equities as the buyer and Sammy Dalembert as the seller. The deal was facilitated by brokers Haley Hasho, Joey Mohsen, and Justin Conway of Exodus Capital, with Vadim Atbashyan of Commercial Acquisitions Realty representing the seller. The property spans 9,775 square feet and was sold for $5,400,000, equating to a price per square foot of $552.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $5,400,000
  • Buyer: David Khaloyan - EKT Equities
  • Seller: Sammy Dalembert
  • Brokers: Haley Hasho, Joey Mohsen, & Justin Conway - Exodus Capital
  • Seller's Rep: Vadim Atbashyan - Commercial Acquisitions Realty
  • Square Footage: 9,775
  • Price Per Square Foot: $552

The individuals and companies involved in the transaction, including David Khaloyan, Sammy Dalembert, Haley Hasho, Joey Mohsen, Justin Conway, and Vadim Atbashyan, played crucial roles in ensuring the successful sale of the mixed-use property. Each party's expertise and representation were integral to the completion of the deal, highlighting the significance of collaboration and negotiation in real estate transactions on the Upper East Side.

Players

Haley Hasho

Exodus Capital

Broker

$378.2M

vol

47 deals

Broker

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

2.94%

Cash-on-Cash

-0.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93