Updated Oct 28, 2024
Hirshmark Capital Refinances Industrial Property In Canarsie, Brooklyn For $5.5M
723 Bristol Street, Brooklyn, NY, USA
$5,500,000
$122/SF
Building Size
45,000 SF
Asset Type
Industrial
Closing
Nov 24, 2021
About this deal
AI
Located at 723 Bristol Street in Canarsie, Brooklyn, this industrial property encompasses a spacious 45,000 square feet. The transaction, which took place on November 24, 2021, involved a loan refinancing.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,500,000
- Address: 723 Bristol Street
- Market: Canarsie, Brooklyn
- Lender: Hirshmark Capital
- Broker: Jake Soodek - Hirshmark Capital
- Loan Type: Refinance
An instrumental player in this deal was Jake Soodek from Hirshmark Capital, who represented the buyer. Hirshmark Capital provided a loan amount of $5,500,000 to facilitate the refinancing process. This transaction showcases the continued activity and growth in Canarsie, Brooklyn's industrial market.
Players
New York 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93