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Hirshmark Capital Provides $7M Loan For Development Site At 691 4th Avenue, Greenwood Heights, Brooklyn

Property Image
FINANCED
$7,000,000
Igor Vaysberg
SC

New York

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Development Site2,240 SF
Financed 04/12/2021
the dealplayerscompscontact
Property Image
FINANCED

Hirshmark Capital Provides $7M Loan For Development Site At 691 4th Avenue, Greenwood Heights, Brooklyn

691 4th Avenue, Greenwood Heights, Brooklyn, NY, USA

See Similar Deals
Development Site2,240 SF
Financed 04/12/2021
Igor Vaysberg
SC
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Price Per Square Foot:$3,125
Total Square Footage:2,240 SF
Transaction Type:Loan

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

Igor Vaysberg
Igor Vaysberg
11 deals$75.3M volume(347) 836-6946
BROKER
Hirshmark Capital
Hirshmark Capital
LENDER
SC
Steve Cheung
8 deals$48.7M volume
LANDLORD

Details

FINANCED
IMAGE: Igor Vaysberg DATE: 04/12/2021 ADDRESS: 691 4th Avenue MARKET: Greenwood Heights, Brooklyn ASSET TYPE: Development Site LENDER: Hirshmark Capital LANDLORD: Steve Cheung BROKERS: Igor Vaysberg - Hirshmark Capital; Rex Grasso - HKS Capital BSF: 65,000 LOAN AMOUNT: $7,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00