Updated Oct 28, 2024
Hirshmark Capital Provides $11.5M Acquisition Loan For Development Site In Williamsburg
96 South 9th Street
$11,500,000
Building Size
—
Asset Type
Development Site
Closing
Jul 26, 2022
About this deal
AI
The development site located at 96-100 South 9th St. in Williamsburg has recently undergone a closed transaction. The property boasts a total BSF (Buildable Square Footage) of 42,525, making it a prime investment opportunity in this market.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Lender: Hirshmark Capital
- Landlord: Double U Realty
- Brokers: Max Ralby - HKS Real Estate Advisors
In this acquisition deal, the buyer secured a loan amount of $11,500,000. The loan type is specifically for the acquisition of the development site. Hirshmark Capital served as the lender in this transaction, providing the necessary financing for the buyer to complete the acquisition.
Players
Akron 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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93