Degen Family Secures $2.8 Million Bridge Loan From Jake Soodek For Bronx Industrial Asset
FINANCED
$2,800,000
New York
See Similar DealsIndustrial100,000 SF
Financed 04/17/2026
FINANCED
Degen Family Secures $2.8 Million Bridge Loan From Jake Soodek For Bronx Industrial Asset
890 East 135th Street
See Similar DealsIndustrial100,000 SF
Financed 04/17/2026
Summary
NEW YORK
Asset Type:Industrial
Price Per Square Foot:$28
Total Square Footage:100,000 SF
Transaction Type:Loan
The asset involved in this transaction is an industrial property located at 890 East 135th Street in the Bronx, encompassing a total square footage of 100,000. The loan amount secured for this property is $2,800,000, classified as a bridge loan.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $2,800,000
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Degen Family
Jake Soodek, representing Hirshmark Capital, facilitated the loan for the Degen Family, who are the landlords of the property in question. This transaction highlights the involvement of key individuals in the financing aspect of the industrial asset deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,800,000.00
Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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