Updated Oct 29, 2024
Hirshmark Capital Provides $4.4M Loan For Development Site On Flatbush Ave
1458 Flatbush Ave, Brooklyn, NY 11210, USA
$4,400,000
$97/SF
Building Size
45,000 SF
Asset Type
Development Site
Closing
Feb 5, 2020
About this deal
AI
A development site located at 1458-1466 Flatbush Ave in Flatbush, Brooklyn has been involved in a closed transaction. The property is a development site with a building size of 45,000 square feet. The transaction details include a loan amount of $4,400,000 provided by Hirshmark Capital at a rate of 8%. The landlord of the property is Threefold Development, represented by Guy Iber. The broker involved in the transaction is Jake Soodek.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,400,000
In this transaction, Threefold Development, represented by Guy Iber, acted as the landlord. Jake Soodek, from the brokerage firm, was the broker involved in the deal. The loan of $4,400,000 at an 8% rate was provided by Hirshmark Capital. The property, located at 1458-1466 Flatbush Ave in Flatbush, Brooklyn, has a building size of 45,000 square feet.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93