Hirshmark Capital Provides $2.25M Acquisition Loan For Mixed-Use Property In Midtown East, Manhattan
238 East 60th Street, New York City, New York 10022, United States
$2,250,000
$409/SF
Building Size
5,500 SF
Asset Type
Mixed-use
Closing
Oct 17, 2022
About this deal
AI
An acquisition loan has been secured for a mixed-use property located at 238 E 60th Street in Midtown East, Manhattan. The property spans approximately 5,500 square feet and is situated in a prime market.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $2,250,000
- Loan Type: Acquisition
- Lender: Hirshmark Capital
- Landlord: Guy Altberg
- Broker: Vincent Sarnelli - Hirshmark Capital
Vincent Sarnelli from Hirshmark Capital represented the buyer in this transaction. The lender, Hirshmark Capital, provided a loan amount of $2,250,000 to facilitate the acquisition of the property.
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
7.05%
Cash-on-Cash
-2.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93