Updated Feb 16, 2024
Hirshmark Capital Provides $1.5M Loan For Development Site At 571 Ocean Parkway, Kensington, Brooklyn
571 Ocean Pkwy, Brooklyn, NY 11218, USA
$1,500,000
$62/SF
Building Size
24,000 SF
Asset Type
Development Site
Closing
Aug 11, 2020
About this deal
AI
A development site located at 571 Ocean Parkway in Kensington, Brooklyn, was involved in a recent loan transaction. The loan was facilitated by @HirshmarkCapital and amounted to $1,500,000. The development site spans a total of 24,000 square feet.
Summary of Transaction Details
- Property Type: Development site
- Transaction Amount: $1,500,000
- Address: 571 Ocean Parkway, Kensington, Brooklyn
- Market: Kensington, Brooklyn
- Lender: @HirshmarkCapital
- Landlord: Leonid Bogomolniy
- Landlord's Representative: Max Goveia
- Lender's Representative: @JakeSoodek
- BSF: 24,000
Max Goveia represented the landlord, Leonid Bogomolniy, in this transaction, while @JakeSoodek represented the lender, @HirshmarkCapital.
Players
New York Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Deal FAQ
Visit Leonid Bogomolniy to view all their deals.
Browse New York development site loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93