Hirshmark Capital Provides $2.8M Refinance Loan For Mixed-Use Property On 601 West 135th Street In New York City
601 West 135th Street
$2,800,000
$46/SF
Building Size
60,000 SF
Asset Type
Mixed-use
Closing
Jul 15, 2023
About this deal
AI
The mixed-use property located at 601 West 135th Street in New York City has recently undergone a refinancing transaction. The property consists of 44 residential apartments and 5 commercial units, making it a versatile investment opportunity in a prime location.
Summary of Transaction Details
- Property Type: Mixed-Use
- Transaction Amount: $2,800,000
- Loan Type: Refinance
- Loan Terms: The property was refinanced with a two (2) year non-recourse loan featuring full-term interest only.
- Lender: Hirshmark Capital
- Brokers: Emil DePasquale & Bryan Manz - Black Bear Capital Partners
Hirshmark Capital served as the lender for this refinancing transaction. Guiding the deal were the brokers Emil DePasquale and Bryan Manz from Black Bear Capital Partners. Their expertise and industry knowledge helped facilitate a successful refinancing process for the mixed-use property.
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93