Hirshmark Capital Provides $7M Bridge Loan For Lower East Side Retail Property
FINANCED
$70,000,000
New York
See Similar DealsFinanced 11/29/2022
FINANCED
Hirshmark Capital Provides $7M Bridge Loan For Lower East Side Retail Property
114 Delancey St, New York, NY 10002, USA
See Similar DealsFinanced 11/29/2022
Summary
NEW YORK
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$70,000,000.00
Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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