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55 17 98th Street

Jake Soodek And Igor Vaysberg Of Hirshmark Capital Provide $2.28M Loan For Development Site In Rego Park
FINANCEDDevelopment Site

Jake Soodek And Igor Vaysberg Of Hirshmark Capital Provide $2.28M Loan For Development Site In Rego Park

55 17 98th Street

$2,280,000

$81/SF

Building Size

28,000 SF

Asset Type

Development Site

Closing

May 14, 2025

AI

This property asset is a development site located at 55-17 98th Street in Rego Park, featuring a building square footage of 28,000. The loan amount for this acquisition is $2,280,000.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $2,280,000
  • Lender: Jake Soodek & Igor Vaysberg - Hirshmark Capital
  • Landlord: Yelena Vaynshteyn
  • Landlord's Representative: Alex Leykind & Michael Fey - Equitas Capital Group

Key individuals involved in this transaction include lenders Jake Soodek and Igor Vaysberg, who are affiliated with Hirshmark Capital. The landlord, Yelena Vaynshteyn, is represented by Alex Leykind and Michael Fey from Equitas Capital Group, indicating a structured representation in the deal.

Players

Alex Leykind

Equitas Capital Group

Broker

$478M

vol

75 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender

Corona 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

6.96%

Cash-on-Cash

-1.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93