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1134 1st Avenue

David Khaloyan Acquires Mixed-use Building In Lenox Hill For $5.4M
SOLDMixed-use

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:

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

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