Updated Nov 9, 2026
Jake Soodek Of Hirshmark Capital Provides $10 Million Loan For Development Site In Manhattan
106 East 31st Street, 108 East 31st Street & 110 East 31st Street
$10,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 16, 2026
About this deal
AI
The asset involved in this transaction is a development site located at 106 East 31st Street, 108 East 31st Street, and 110 East 31st Street in Manhattan. The loan secured for this acquisition amounts to $10,000,000.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $10,000,000
- Lender: Jake Soodek - Hirshmark Capital
- Borrower: Alex Nad
- Loan Type: Acquisition
- Date of Transaction: 10/16/2026
This transaction highlights the roles of key individuals in the real estate market. Jake Soodek represents Hirshmark Capital in this loan deal, while Alex Nad acts as the borrower, securing funding for the acquisition of the specified development site.
On the Map
$10,000,000
Development Site
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Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93