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401 W 219th St New York, NY...

Updated Dec 4, 2023

Hirshmark Capital Provides $14.75M Bridge Loan For Industrial Property On West 219th Street, Inwood
FINANCEDIndustrial

Hirshmark Capital Provides $14.75M Bridge Loan For Industrial Property On West 219th Street, Inwood

401 W 219th St New York, NY 10034, USA

$14,750,000

Building Size

Asset Type

Industrial

Closing

Aug 21, 2023

About this deal

AI

An industrial property located at 401-419 West 219th Street in Inwood, Manhattan has been involved in a recent loan transaction. The property, owned by Hal Goldberg, secured a bridge loan in the amount of $14,750,000 from Hirshmark Capital. This loan will provide financial support for the property's development or renovation.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $14,750,000
  • Lender: Hirshmark Capital - Igor Vaysberg
  • Landlord: Hal Goldberg
  • Loan Type: Bridge
  • Address: 401-419 West 219th Street, Inwood, Manhattan

Igor Vaysberg from Hirshmark Capital facilitated the loan transaction on behalf of the lender. Hal Goldberg, the property's landlord, successfully secured the financing to support the property's development or renovation plans. This bridge loan will enable the property to fulfill its potential in the industrial market in Inwood, Manhattan.

Players

Hirshmark Capital
Hirshmark CapitalLender

Hal Goldberg

Landlord

$29.5M

vol

2 deals

Landlord

Market 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

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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