AAJ Developers Acquires Mixed-Use Building From Lee Family For $4.8 Million In East Village
34 Avenue a
$4,800,000
$768/SF
Building Size
6,248 SF
Asset Type
Mixed-use
Closing
Aug 2, 2024
AI
34 Avenue A is a mixed-use property located in the East Village, Manhattan. The sale price was $4,800,000, with a total of 4 units. The total square footage of the property is 6,248, resulting in a price per unit of $1,200,000 and a price per square foot of $768.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $4,800,000
- Address: 34 Avenue A
- Market: East Village, Manhattan
- Units: 4
- Square Footage: 6,248
- Price Per Unit: $1,200,000
- Price Per Square Foot: $768
- Buyer: AAJ Developers
- Seller: Lamng Family
- Broker: Roni Yaghoobzar - Safdie Realty Group
The transaction was facilitated by Roni Yaghoobzar from Safdie Realty Group, representing both the seller and purchaser in this deal.
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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93