Updated Feb 16, 2024
Hirshmark Capital Provides $7M Loan For Development Site At 691 4th Avenue, Greenwood Heights, Brooklyn
691 4th Avenue, Greenwood Heights, Brooklyn, NY, USA
$7,000,000
$3,125/SF
Building Size
2,240 SF
Asset Type
Development Site
Closing
Apr 11, 2021
About this deal
AI
The development site located at 691 4th Avenue in Greenwood Heights, Brooklyn has recently undergone a closed transaction. The property spans a total square footage of 65,000 square feet. The loan amount secured for this transaction is $7,000,000. The asset is a development site, indicating future plans for construction or redevelopment.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Address: 691 4th Avenue
- Market: Greenwood Heights, Brooklyn
This transaction involved key individuals and companies. The lender for this deal is Hirshmark Capital, while the landlord is Steve Cheung. The brokers involved in the transaction are Igor Vaysberg representing Hirshmark Capital and Rex Grasso representing HKS Capital.
Players
New York 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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93