Hirshmark Capital Acquires Development Site In Williamsburg For $11.5M
FINANCED
$11,500,000
New York
See Similar DealsDevelopment Site42,525 SF
Financed
FINANCED
Hirshmark Capital Acquires Development Site In Williamsburg For $11.5M
96 South 9th Street, Brooklyn, New York 11249, United States
See Similar DealsDevelopment Site42,525 SF
Financed
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$270
Total Square Footage:42525 SF
Transaction Type:Loan
The development site located at 96-100 S. 9th St. in Williamsburg was recently involved in a closed transaction. With a buildable square footage (BSF) of 36,500, this development site offers great potential for future construction projects.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $11,500,000
- Address: 96-100 S. 9th St.
- Market: Williamsburg
- Lender: Hirshmark Capital
- Landlord: Michael Weitzman
Bert R. Dweck, representing Hirshmark Capital, played a significant role in this transaction. As the broker, Bert R. Dweck facilitated the deal between the lender and the landlord. His expertise and negotiation skills were instrumental in bringing the parties together and ensuring a successful acquisition.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,500,000.00
Monthly NOI$76,666.67
Monthly Debt Service$72,687.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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