Jake Soodek Of Hirshmark Capital Provides $2.75M Bridge Loan To Foukalas Family In Elmhurst
83-17 Broadway
$2,750,000
$161/SF
Building Size
17,000 SF
Asset Type
Mixed-use
Closing
Sep 3, 2024
AI
83-17 Broadway is a mixed-use property located in the Elmhurst market, encompassing 17,000 square feet. A loan amount of $2,750,000 has been secured for this property under a bridge loan type.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,750,000
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Foukalas Family
- Broker: Steven Vasilantonakis - Cosmos Capital Group
The transaction involves key individuals including Jake Soodek who represents the lender, Hirshmark Capital. The landlord of the property is the Foukalas Family, and Steven Vasilantonakis serves as the broker representing the deal through Cosmos Capital Group.
Elmhurst Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93