Premier Equities pays $6.1M for retail condo in East Village

Premier Equities through the entity Premier 119-121 2nd Avenue LLC paid $6.1 million to Nexus Building Development Group through the entity Avenue Second Owner LLC for retail building (CC) at 119-121 2nd Avenue in East Village, Manhattan.
The deal closed on October 28, 2021 and was recorded on December 7, 2021.
Premier Equities has purchased two other properties in the last two years for a total of $29.5 million, according to PincusCo data.

Simultaneously with this transaction, Premier borrowed $9.5 million, more than 50 percent above the purchase price, from A10 Capital. Premier has a listing for the space on its website.

The signatory for Nexus Building Development Group was Yaniv Shaky Cohen. The signatory for Premier Equities was Mark D. Mermel.

This is for unit NRU. The mortgage was signed by Yaron Jacobi, founding partner of Premier Equities.

Within a 400-foot radius of 45 East 7th Street, PincusCo identified 18 commercial real estate items of interests occurred over the past 24 months.
Of those 18 items, one was for major renovation including a certificate of occupancy change. It was a permit issued on January 13, 2021 for the $390,750 renovation of a 7,898-square-foot R-2 building with seven residential units at 100 Second Avenue.
Of those 18 items, six were sales above $5 million totaling $60.5 million. The most recent of the six was Yong Hong Guan which bought the 10,536-square-foot, 16-unit rental (C1) on 36 East 7th Street for $10.4 million from Ania Chowaniec on July 12, 2021.
Of those 18 items, 11 were loans above $5 million totaling $178.3 million. The most recent of the 11 was Icon Realty Management and Stellar Management which borrowed $9.5 million from New York Community Bank secured by the 7,200-square-foot, one-unit retail building (K7) on 130 2nd Avenue on November 18, 2021.

Direct link to Acris document. link

Share this article