Four Boys II LLC Acquires Mixed-Use Building At 118 2nd Avenue In East Village, Manhattan For $14.5M
118 2nd Avenue
$14,500,000
Building Size
—
Asset Type
Mixed-use
Closing
Jan 23, 2024
About this deal
AI
Morgenstern Capital has sold a mixed-use rental building with restaurant space at 118 Second Ave. in Manhattan to Four Boys II LLC for $14.5 million. The property is located in the East Village neighborhood of Manhattan. This notable transaction highlights the demand for mixed-use properties in the area.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $14,500,000
- Address: 118 Second Ave.
- Market: East Village, Manhattan
Morgenstern Capital, the seller, has completed the sale of the property to Four Boys II LLC. This transaction demonstrates the involvement of key individuals and companies in the real estate market. Morgenstern Capital acted as the selling party, while Four Boys II LLC acquired the property.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93