Hirshmark Capital Provides $4.15M Bridge Loan For Condo Inventory In New York City
2280 Frederick Douglass Boulevard
$4,150,000
$319/SF
Building Size
13,000 SF
Asset Type
Condo
Closing
Dec 1, 2022
About this deal
AI
The property involved in this closed transaction is a condo inventory located at 2280 Frederick Douglass Boulevard in New York City. With a total square footage of 13,000, this property is part of the condominium development in the area.
Summary of transaction details:
- Property Type: Condo Inventory
- Transaction Amount: $4,150,000
- Market: New York City
- Lender: Hirshmark Capital - Jake Soodek
- Landlord: Hans Futterman
- Loan Type: Bridge
Hans Futterman, the landlord of the property, was involved in this transaction. The loan amount of $4,150,000 was provided by Hirshmark Capital, with Jake Soodek representing the lender in the deal.
Players
New York City Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.82%
Cash-on-Cash
-1.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93