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510 9th Ave, New York, NY 1...

Tanya Mighty Acquires Mixed-Use Property In Hells Kitchen With Mark Levin - $2.1M Loan From @HirshmarkCapital
FINANCEDMixed-use

Tanya Mighty Acquires Mixed-Use Property In Hells Kitchen With Mark Levin - $2.1M Loan From @HirshmarkCapital

510 9th Ave, New York, NY 10018, USA

$2,100,000

$184/SF

Building Size

11,400 SF

Asset Type

Mixed-use

Closing

Apr 23, 2020

AI

A mixed-use property located at 510 9th Avenue in Hells Kitchen has recently closed in a transaction. The property, spanning 11,400 square feet, consists of 24 units. The deal was facilitated by Mark Levin, who represented the buyer/seller/landlord/tenant (not specified in the CONTEXT). The transaction involved a loan amount of $2,100,000, with a loan term of 7.75%.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: $2,100,000
  • Square Footage: 11,400
  • Address: 510 9th Avenue, Hells Kitchen
  • Market: Hells Kitchen
  • Units: 24

Tanya Mighty served as the landlord in this transaction. The loan for the deal was provided by Hirshmark Capital, with a loan term of 7.75%. Mark Levin, from an unspecified agency, acted as the broker representing one of the parties involved in the transaction.

Players

Mark Levin

Broker

$7.9M

vol

3 deals

Broker
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

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93