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
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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93