Jake Soodek And Igor Vaysberg Of Hirshmark Capital Provide $6.9M Bridge Loan For Development Site In Brooklyn
1667 Sheepshead Bay Road & 2510 Coney Island Avenue
$6,900,000
Building Size
—
Asset Type
Development Site
Closing
Aug 28, 2025
AI
The asset involved in the transaction is a development site located at 1667 Sheepshead Bay Road and 2510 Coney Island Avenue in Brooklyn. The loan amount secured for this property is $6,900,000 under a bridge loan type.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $6,900,000
- Lender: Jake Soodek & Igor Vaysberg - Hirshmark Capital
- Landlord: Yelena Vaynshteyn
- Landlord's Representative: Michael Fey & Alex Leykind - Equitas Capital Group
- Date of transaction: 8/29/2025
The key individuals and companies involved in this deal include lenders Jake Soodek and Igor Vaysberg, representing Hirshmark Capital, and landlord Yelena Vaynshteyn, with Michael Fey and Alex Leykind serving as the landlord's representatives from Equitas Capital Group.
Players
Brooklyn 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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93