Cobby Gorjian Of Gorjian Real Estate Group Acquires Mixed-Use Building For $3 Million
141 1st Avenue
$3,000,000
$495/SF
Building Size
6,055 SF
Asset Type
Mixed-use
Closing
Jul 12, 2026
About this deal
AI
Cobby Gorjian acquired a 6,055-square-foot mixed-use building at 141 1st Avenue in Manhattan's East Village from Michael Hwang for $3 million. The transaction closed on July 12, 2026, valuing the asset at $495 per square foot.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $3,000,000
- Address: 141 1st Avenue
- Market: East Village, Manhattan
- Square Footage: 6,055
- Price per Square Foot: $495
- Buyer: Cobby Gorjian - Gorjian Real Estate Group
- Seller: Michael Hwang
- Closing Date: July 12, 2026
Cobby Gorjian is associated with Gorjian Real Estate Group, while Michael Hwang was the seller in this transaction. The deal reflects an investment in a prominent location within the vibrant East Village neighborhood.
On the Map
$3,000,000
$495/SF
Mixed-use
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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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93