Updated Feb 16, 2024
Hirshmark Capital Provides $3.5M Acquisition Loan For Sunset Park Development Site
801 65th Street, Brooklyn, NY 11220
$3,500,000
$291/SF
Building Size
12,000 SF
Asset Type
Development Site
Closing
Dec 29, 2021
About this deal
AI
A development site located at 801 65th Street in Sunset Park, Brooklyn has been involved in a recent closed property transaction. The property, with a buildable square footage (BSF) of 12,000, was acquired through an acquisition loan.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $3,500,000
- Address: 801 65th Street
- Market: Sunset Park, Brooklyn
- BSF: 12,000
The lender in this transaction was Hirshmark Capital. The landlord of the development site is Efthimios Zisimopoulos. Jake Soodek, representing his agency, acted as the broker in the deal.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93