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Drew Popkin Of Highpoint Property Group Refinances East Village Multifamily Asset For $11 Million
New York
See Similar DealsMultiFamily11,057 SF
Leased 12/08/2025
Drew Popkin Of Highpoint Property Group Refinances East Village Multifamily Asset For $11 Million
174 176 1st Avenue
See Similar DealsMultiFamily11,057 SF
Leased 12/08/2025
Summary
NEW YORK
Asset Type:MultiFamily
Total Square Footage:11,057 SF
The asset involved in the transaction is a multifamily property located at 174-176 1st Avenue in the East Village, Manhattan. The building features a total building square footage of 13,364 square feet and a usable space of 11,057 square feet. A refinance loan of $11,000,000 was secured for this property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Lender: Valley National Bank
- Landlord: Drew Popkin - Highpoint Property Group
- Loan Type: Refinance
The refinancing process involved Highpoint Property Group, led by Drew Popkin, replacing prior debt from Webster Bank with new financing through Valley National Bank. This transaction highlights the strategic financial management undertaken by Highpoint Property Group for their seven-unit walkup in the East Village.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$0.00
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)-$834,329.79
Cash-on-Cash Return0.00%
Monthly Debt Service$69,527.48
Annual Debt Service$834,329.79
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