Updated Feb 16, 2024
Hirshmark Capital Provides $2.25M Bridge Loan For Development Site In Brooklyn
51 South 2nd Street
$2,250,000
Building Size
—
Asset Type
Development Site
Closing
Mar 10, 2023
About this deal
AI
A development site located at 51 South 2nd Street in Brooklyn has recently been involved in a loan transaction. The loan amount of $2,250,000 was provided by Hirshmark Capital, and the loan type is a bridge loan. The lender's representative in the deal is Jake Soodek. The property is owned by Stephanie Eisenberg.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,250,000
- Lender: Hirshmark Capital
- Lender's Representative: Jake Soodek
- Landlord: Stephanie Eisenberg
This loan transaction showcases the involvement of key individuals and companies. Jake Soodek, representing Hirshmark Capital, played a significant role as the lender's representative. Stephanie Eisenberg serves as the landlord of the development site in question.
Players
Market Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93