Davoudzadeh Family Secures $2,362,500 Acquisition Loan From Jake Soodek For 688 Manhattan Avenue
688 Manhattan Avenue
$2,362,500
$363/SF
Building Size
6,500 SF
Asset Type
Mixed-use
Closing
May 11, 2026
AI
The asset involved in this transaction is a mixed-use property located at 688 Manhattan Avenue in Brooklyn, featuring a square footage of 6,500. The loan amount secured for this acquisition is $2,362,500.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,362,500
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Davoudzadeh Family
- Loan Type: Acquisition
In this transaction, Jake Soodek serves as the lender representing Hirshmark Capital, while the landlord of the property is noted as the Davoudzadeh Family, indicating their role in this acquisition process.
Players
Brooklyn 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
6.71%
Cash-on-Cash
-1.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93