Robert Spitalnick Sells Mixed-Use Property At 114 East 1st Street For $7.3M
114 East 1st Street
$7,300,000
$414/SF
Building Size
17,610 SF
Asset Type
Mixed-use
Closing
Sep 2, 2026
About this deal
AI
The property asset involved in this transaction is a mixed-use building located at 114 East 1st Street, New York. The sale price of the property was $7,300,000. It consists of 30 units, with a price per unit (PPU) of $243,333. The total square footage of the asset is 17,610, resulting in a price per square foot (PPSF) of $414.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,300,000
- Units: 30
- Price per Unit: $243,333
- Square Feet: 17,610
- Price per Square Foot: $414
- Seller: Robert Spitalnick
- Brokers: Jonathan (Jon) Schwartz, Henry Barnathan & David Schechtman - Meridian Capital Group
The deal was facilitated by the team from Meridian Capital Group, specifically Jonathan (Jon) Schwartz, Henry Barnathan, and David Schechtman, who represented the seller, Robert Spitalnick, in 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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93