David Khaloyan Acquires Mixed-use Building In Lenox Hill 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
An elevator building in Lenox Hill, Manhattan, located at 1134 1st Avenue has been successfully sold in a closed transaction. The mixed-use property, spanning 12,000 square feet, was purchased for $5,400,000 at a rate of $450 per square foot. The transaction involved David Khaloyan as the buyer and Samuel Dalembert as the seller.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,400,000
- Address: 1134 1st Avenue
- Market: Lenox Hill, Manhattan
- Buyer: David Khaloyan
- Seller: Samuel Dalembert
- Buyer's Rep: Haley Hasho - Exodus Capital
- Seller's Rep: Vadim Atbashyan - Commercial Acquisitions Realty
The seller's representative, Vadim Atbashyan of Commercial Acquisitions Realty, highlighted that the property is a free-market 8 unit plus duplex commercial elevator building that was delivered vacant. For further inquiries or assistance in selling any commercial property, individuals are encouraged to reach out to Vadim Atbashyan at @vadim1013 with @carealtyinc.
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
2.94%
Cash-on-Cash
-0.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93