Updated Dec 4, 2023
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
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