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118 2nd Avenue

Updated Dec 4, 2024

Four Boys II LLC Acquires Mixed-Use Building At 118 2nd Avenue In East Village, Manhattan For $14.5M
SOLDMixed-use

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

MC
Morgenstern CapitalSeller

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

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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