Drew Popkin’s Highpoint Property Acquires Mixed-Use Asset In East Village For $12.1M
174 1st Avenue, New York, NY 10009, USA
Building Size
93,840 SF
Asset Type
Mixed-use
Closing
May 23, 2018
About this deal
AI
The mixed-use property located at 174 1st Avenue X in the East Village neighborhood of New York has been sold for a total price of $12,100,000. The property spans 9,384 square feet and has a price per square foot of $1,289. The seller of the property was EBMG, LLC and AMJ Equities, while the buyer was Drew Popkin's Highpoint Property.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $12,100,000
- Square Footage: 9,384 sf
- Price per Square Foot: $1,289
- Seller: EBMG, LLC and AMJ Equities
- Buyer: Drew Popkin's Highpoint Property
Drew Popkin's Highpoint Property, represented by their broker, played a key role in this transaction. The property's location at the intersection of 1st Avenue and 10th Street in the East Village adds to its appeal and market value.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93