Hirshmark Capital Provides $7M Bridge Loan For Lower East Side Retail Property
114 Delancey St, New York, NY 10002, USA
$70,000,000
Building Size
—
Asset Type
—
Closing
Nov 29, 2022
About this deal
AI
The retail property located at 114 Delancey St in the Lower East Side of Manhattan has been involved in a recent loan transaction. The property spans approximately 25,000 square feet and is situated in a bustling market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,000,000
- Lender: Hirshmark Capital - Jake Soodek & Igor Vaysberg
- Landlord: Baruch Singer
- Loan Type: Bridge
The loan for this property was provided by Hirshmark Capital, specifically facilitated by Jake Soodek and Igor Vaysberg. The loan amount totaled $7,000,000 and falls under the category of a bridge loan. Baruch Singer acts as the landlord in this transaction.
On the Map
$70,000,000
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93