Avi Hiaeve Of Avi & Co Secures $19M Refinance For Office Building In Lenox Hill
5 East 59th Street
$19,000,000
$499/SF
Building Size
38,052 SF
Asset Type
Office
Closing
Feb 19, 2026
About this deal
AI
The asset involved in this transaction is an office building located at 5 East 59th Street in Lenox Hill, Manhattan. The building encompasses 38,052 square feet and has been refinanced for a loan amount of $19,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $19,000,000
- Loan Type: Refinance
- Landlord: Avi Hiaeve
- Company: Avi & Co
- Previous Debt: $18,200,000 from Cerco Funding
- Lender: Genesis LLC
The key individual in this transaction is Avi Hiaeve, a diamond dealer representing Avi & Co., who managed to secure the refinancing for the property. This transaction involved replacing the prior debt with a new loan structured with Genesis LLC.
On the Map
$19,000,000
$499/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93