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641 President Street, Brook...

Updated Feb 16, 2024

Hirshmark Capital Provides $5.2M Loan For Mixed-Use Property In Park Slope, Brooklyn
FINANCEDMixed-use

Hirshmark Capital Provides $5.2M Loan For Mixed-Use Property In Park Slope, Brooklyn

641 President Street, Brooklyn, NY, USA

$5,200,000

$5,200/SF

Building Size

1,000 SF

Asset Type

Mixed-use

Closing

May 6, 2021

About this deal

AI

A mixed-use property located at 641 President Street and 137 5th Avenue in Park Slope, Brooklyn recently underwent a closed transaction. The property includes a diverse range of uses, combining residential and commercial spaces, making it an attractive investment opportunity in this bustling neighborhood.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $5,200,000
  • Address: 641 President Street, 137 5th Avenue, Park Slope, Brooklyn
  • Market: Park Slope, Brooklyn

The lender involved in this transaction is Hirshmark Capital, represented by Jake Soodek. They provided a loan amount of $5,200,000 to facilitate the deal. Frances Gorga served as the landlord in this transaction, overseeing the property.

This closed transaction highlights the growing demand for mixed-use properties in Park Slope, Brooklyn. The involvement of reputable entities such as Hirshmark Capital and Frances Gorga further adds credibility to the deal, ensuring its success.

Players

Hirshmark Capital
Hirshmark CapitalLender

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Deal FAQ

About $5.2K per square foot on a published $5.2M for 1,000 square feet (2021).

Browse New York mixed use loans on Traded.

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

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