Hirshmark Capital Provides $11.5M Acquisition Loan For Williamsburg Development Site
96-100 S. 9th St.
Building Size
—
Asset Type
—
Closing
Jul 26, 2022
About this deal
AI
The development site located at 96-100 S. 9th St. in Williamsburg has been involved in a recent loan transaction. The transaction took place on 07/26/2022. The site is a development opportunity with a total buildable square footage (BSF) of 36,500.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Lender: Hirshmark Capital
- Landlord: Michael Weitzman
- Broker: Bert R. Dweck - Hirshmark Capital
- Loan Type: Acquisition
The loan amount for this transaction is $11,500,000. The loan was used for the acquisition of the development site. The lender for this transaction is Hirshmark Capital. The landlord of the property is Michael Weitzman. Bert R. Dweck from Hirshmark Capital represented the buyer in this deal.
On the Map
Players
Akron CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93