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457 West 17th Street

Dilmanian Family Secures $5.2M Refinance Loan From Hirshmark Capital For Chelsea Mixed-Use Property
FINANCEDMixed-use

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

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.

Players

Chaim Greenfeld

Eastdil Secured

Broker

$152.8M

vol

8 deals

Broker
Eastdil Secured
Eastdil SecuredBrokerage
Hirshmark Capital
Hirshmark CapitalLender

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