Updated Feb 16, 2024
Hirshmark Capital Refinances Development Site In Upper East Side, Manhattan For $5.8M
439 East 77th Street, New York City, New York 10075, United States
$5,800,000
$193/SF
Building Size
30,000 SF
Asset Type
Development Site
Closing
Dec 8, 2021
About this deal
AI
An $5,800,000 loan was obtained to refinance a development site located at 439 E. 77th Street in the Upper East Side of Manhattan. The site has a buildable square footage (BSF) of 30,000. The loan was provided by Hirshmark Capital.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,800,000
- Address: 439 E. 77th Street
- Market: Upper East Side, Manhattan
- BSF: 30,000
- Lender: Hirshmark Capital
Igor Vaysberg, representing Hirshmark Capital, facilitated the loan transaction for the development site on behalf of the borrower. The property is owned by Pat Ciullo.
On the Map
$5,800,000
$193/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93