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Hirshmark Capital Provides $1.85M Acquisition Loan For Mixed-use Property In Crown Heights

Property Image
FINANCED
$1,850,000

New York

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Mixed-use16,000 SF
Financed 05/22/2024
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Property Image
FINANCED

Hirshmark Capital Provides $1.85M Acquisition Loan For Mixed-use Property In Crown Heights

542 Howard Avenue

See Similar Deals
Mixed-use16,000 SF
Financed 05/22/2024
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$115
Total Square Footage:16,000 SF
Transaction Type:Loan

The mixed-use property located at 542 Howard Avenue in Crown Heights, Brooklyn spans 16,000 square feet. The acquisition loan for this property amounted to $1,850,000 and was secured from Hirshmark Capital. The landlord of the property is Sean Sedaghatpour, with the lending process facilitated by Igor Vaysberg and Jake Soodek from Hirshmark Capital. GCP Capital Group, represented by David Sessa, brokered the deal.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,850,000
  • Address: 542 Howard Avenue
  • Market: Crown Heights, Brooklyn

David Sessa from GCP Capital Group played a crucial role as the broker in this transaction, connecting the parties involved in the acquisition loan. The collaboration between Igor Vaysberg and Jake Soodek from Hirshmark Capital ensured the successful funding of the $1,850,000 loan for the mixed-use property in Crown Heights, Brooklyn. Sean Sedaghatpour's position as the landlord added another layer to the deal, bringing all key individuals together for a successful property transaction.

Players

David Sessa
1 deal$1.9M volume
BROKER

Hirshmark Capital
LENDER

Details

FINANCED
IMAGE: David Sessa, Igor Vaysberg & Jake Soodek DATE: 05/22/2024 ADDRESS: 542 Howard Avenue MARKET: Crown Heights, Brooklyn ASSET TYPE: Mixed-use ~ SF: 16,000 LENDER: Hirshmark Capital (@HirshmarkCapital) - Igor Vaysberg (@IgorVaysberg) & Jake Soodek (@JakeSoodek) LANDLORD: Sean Sedaghatpour BROKER: David Sessa - GCP Capital Group LOAN AMOUNT: $1,850,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,850,000.00

Monthly NOI$12,333.33
Monthly Debt Service$11,693.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00