Hirshmark Capital Provides $4.1M Acquisition Loan For Mixed-Use Property On Stone St In FiDi
52 Stone Street, Manhattan, New York, NY, USA
$4,100,000
$546/SF
Building Size
7,500 SF
Asset Type
Mixed-use
Closing
Sep 15, 2021
About this deal
AI
The mixed-use property located at 52 Stone St in the FiDi market has been involved in a recent transaction. The property spans approximately 7,500 square feet and features a combination of residential and commercial spaces.
Summary of Transaction Details
- Property Type: Mixed-use
- Transaction Amount: $4,100,000
- Address: 52 Stone St
- Market: FiDi
- Lender: Hirshmark Capital
- Landlord: Ronan Downs
- Brokers: Jake Soodek and Bert Dweck from Hirshmark Capital, Ahron Sussman from Ariel Property Advisors
- Loan Type: Acquisition
Leading the deal from the lender's side was Hirshmark Capital, providing a loan of $4,100,000 for the acquisition. Ronan Downs acted as the landlord in this transaction. On the brokerage side, Jake Soodek and Bert Dweck represented Hirshmark Capital, while Ahron Sussman served as the broker from Ariel Property Advisors. Together, they facilitated the successful completion of this property acquisition.
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
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93