Hirshmark Capital Provides $1.5M Bridge Loan For Industrial Property In Flatbush
980 East 35th Street & 986 East 35th Street
$1,500,000
$104/SF
Building Size
14,400 SF
Asset Type
Industrial
Closing
May 14, 2024
AI
The industrial property located at 980-986 E 35th Street in Flatbush, Brooklyn spans 7,200 square feet. The loan amount for this transaction was $1,500,000, with a bridge loan secured for the deal. The lender for this transaction was Hirshmark Capital represented by Bert R. Dweck, and the landlord is Mary DiNicola. The property was brokered by Christopher J. Calabrese from The CS Organization.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $1,500,000
- Address: 980-986 E 35th Street
- Market: Flatbush, Brooklyn
- Lender: Hirshmark Capital - Bert R. Dweck
- Landlord: Mary DiNicola
- Broker: Christopher J. Calabrese - The CS Organization
Christopher J. Calabrese from The CS Organization represented the broker in this deal, facilitating the smooth transaction between the lender, Hirshmark Capital, and the landlord, Mary DiNicola. Bert R. Dweck played a crucial role as the representative of Hirshmark Capital, ensuring the successful completion of the bridge loan for this industrial property in Flatbush, Brooklyn.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93