Updated Feb 16, 2024
Hirshmark Capital Provides $3.35M Loan For Commercial Condo In Harlem
2280 Frederick Douglass Blvd, New York, NY, USA
$3,350,000
$284/SF
Building Size
11,777 SF
Asset Type
Commercial
Closing
Nov 23, 2020
About this deal
AI
A commercial condo along with a community facility condo and two penthouse condos located at 2280 Frederick Douglass Blvd in Harlem have recently undergone a closed transaction. The property is situated in a vibrant market and offers various types of spaces.
Summary of transaction details
- Property Type: Commercial condo, Community facility condo, & 2 penthouse condos
- Address: 2280 Frederick Douglass Blvd
- Market: Harlem
The lender involved in this transaction was Hirshmark Capital. The loan amount provided was $3,350,000 with an interest rate of 8%. The landlord of the property is Hans Futterman. Jake Soodek from Hirshmark Capital represented the buyer as the broker in this deal.
These key individuals and companies played a crucial role in the successful completion of the transaction. The property's unique features, market location, and involvement of reputable parties make it an attractive investment opportunity.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93