Premier Equities Secures $9.5M Acquisition Loan For East Village Retail Property
119 2nd Avenue, Manhattan, New York, NY, USA
$9,500,000
$1,484/SF
Building Size
6,400 SF
Asset Type
Retail
Closing
Oct 29, 2021
AI
The property asset involved in this closed transaction is a retail space located at 119 2nd Avenue in the East Village. The property spans approximately 6,400 square feet and is owned by Premier Equities, represented by Uzi Ben Abraham and Yaron Jacobi. The transaction was facilitated by Cary Pollack and Judah Neuman of Meridian Capital Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,500,000
- Lender: A-10 Capital
- Landlord: Premier Equities - Uzi Ben Abraham & Yaron Jacobi
- Brokers: Cary Pollack & Judah Neuman - Meridian Capital Group
The acquisition loan for this transaction was provided by A-10 Capital. Cary Pollack and Judah Neuman of Meridian Capital Group represented the buyer in securing the loan. No additional information was provided regarding the terms or conditions of the loan.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93