Jake Soodek Of Hirshmark Capital Provides $6.75M Refinance Loan For Chan Family's Industrial Asset
300 Butler Street
$6,750,000
$150/SF
Building Size
45,000 SF
Asset Type
Industrial
Closing
May 14, 2026
AI
The property involved in this transaction is an industrial asset located at 300, 310 & 316 Butler Street in Brooklyn, featuring a total square footage of 45,000. The transaction relates to a loan amount of $6,750,000 for a refinance.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,750,000
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Chan Family
- Loan Type: Refinance
This deal involves Jake Soodek representing Hirshmark Capital as the lender for the Chan Family, who is the landlord of the property. The refinance loan plays a crucial role in the financial strategy of the landlords concerning the industrial asset.
Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93