Updated Sep 11, 2026
Hirshmark Capital Provides $10.5M Bridge Loan For Park Slope Development Site
171 4th Avenue
$10,500,000
Building Size
—
Asset Type
Development Site
Closing
Nov 30, 2022
About this deal
AI
A bridge loan in the amount of $10,500,000 was secured for a development site located at 171 4th Avenue in Park Slope. The loan was provided by Hirshmark Capital through their representative Jake Soodek. The property, situated in the Park Slope market, is poised for future development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,500,000
- Lender: Hirshmark Capital - Jake Soodek
- Loan Type: Bridge
Hirshmark Capital, represented by Jake Soodek, facilitated the bridge loan for the development site at 171 4th Avenue in Park Slope. This loan will serve as interim financing and provide the necessary funds for the property's development. The transaction highlights the involvement of key individuals and companies in the loan process, showcasing the expertise and collaboration of industry professionals.
On the Map
$10,500,000
Development Site
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Players
Bay Shore Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93