Hirshmark Capital Provides $10.5M Bridge Loan For Mixed-Use Properties In Brooklyn
1818 79th Street, Bensonhurst, Brooklyn, NY, USA
$10,500,000
$100/SF
Building Size
105,000 SF
Asset Type
Mixed-use
Closing
Nov 1, 2021
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located in Bensonhurst, Bay Ridge, Brooklyn. The address of the property is 1818 79th Street, 901 73rd Street, and 7506 5th Avenue. It encompasses a total of 105,000 square feet.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $10,500,000
Jake Soodek, representing Hirshmark Capital, served as the lender for this deal. Dimitri Vlahakis acted as the landlord for the property. The loan provided for this transaction was a bridge loan.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93