EKT Equities Acquires Mixed-Use Property In Chinatown For $11 Million From Jackson Mak

The property asset involved in the transaction consists of two mixed-use buildings located at 36 Orchard Street and 37 Orchard Street in the Chinatown market. The total sale price for the properties was $11,000,000, encompassing 29 units and a combined square footage of 14,880. The per unit price is approximately $379,310, while the price per square foot stands at $739. The breakdown of the properties includes nine residential and one commercial unit at 36 Orchard, amounting to 6,300 square feet, and 16 residential and three commercial units at 37 Orchard, which covers 8,580 square feet.

Summary of transation details:

• Property Type: Mixed-use
• Transaction Amount: $11,000,000
• Buyer: Ali Tabrizi, David Khaloyan & Benjamin Esshaghian
• Buying Entity: EKT Equities
• Seller: Jackson Mak
• Total Units: 29
• Square Footage: 14,880
• Price per Unit: $379,310
• Price per Square Foot: $739
• 36 Orchard Street - Residential Units: 9, Commercial Units: 1, Square Footage: 6,300, Price: $4,750,000
• 37 Orchard Street - Residential Units: 16, Commercial Units: 3, Square Footage: 8,580, Price: $6,250,000

Ali Tabrizi, David Khaloyan, and Benjamin Esshaghian represent EKT Equities, a privately held real estate investment firm that focuses on acquiring, repositioning, and managing multifamily and commercial properties in key markets like New York and Los Angeles. The firm aims to search for new acquisitions and value-add opportunities, demonstrating a strategic approach to growing their portfolio.