Hirshmark Capital Provides $3.75M Refinance Loan For Commercial Property In Harlem
2280 Frederick Douglass Boulevard, New York City, New York 10027, United States
$3,750,000
$288/SF
Building Size
13,000 SF
Asset Type
—
Closing
Jan 14, 2022
About this deal
AI
Located in Harlem, the property at 2280 Frederick Douglass Blvd. recently closed in a package deal transaction. The deal included a commercial condo, a community facility condo, as well as penthouse units A and E, totaling approximately 13,000 square feet. The transaction was facilitated by broker Jake Soodek of Hirshmark Capital.
Summary of transaction details:
- Property Type: Package Deal (Commercial Condo, Community Facility Condo, Penthouse A & Penthouse E)
- Transaction Amount: $3,750,000
- Loan Type: Refinance
Hirshmark Capital provided a loan of $3,750,000 for the refinance of the property. The landlord of the property is Hans Futterman. Jake Soodek, representing Hirshmark Capital, served as the broker in the transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93