Dilmanian Family Secures $5.2M Refinance Loan From Hirshmark Capital For Chelsea Mixed-Use Property
457 West 17th Street
$5,200,000
$433/SF
Building Size
12,000 SF
Asset Type
Mixed-use
Closing
Jun 3, 2025
About this deal
AI
The property asset involved is a mixed-use building located at 457 West 17th Street in the Chelsea market. The total square footage of the property is 12,000, and the transaction includes a refinance loan amount of $5,200,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,200,000
- Lender: Hirshmark Capital
- Lender's Representative: Jake Soodek
- Landlord: Dilmanian Family
- Landlord's Representative: Chaim Greenfeld - Eastdil Secured
- Loan Type: Refinance
- Date of Transaction: 6/4/2025
Key individuals involved in the deal include Jake Soodek, who represents Hirshmark Capital in the financing, and Chaim Greenfeld from Eastdil Secured, representing the Dilmanian Family as the landlord. Their roles are significant in facilitating the terms of the refinance agreement.
On the Map
$5,200,000
$433/SF
Mixed-use
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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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93