Updated Feb 16, 2024
Hirshmark Capital Provides $12.7M Loan For Multifamily Property In UES/Manhattan And Hamptons/Long Island
14 E 69th St, New York, NY 10021, USA
$12,700,000
$1,036/SF
Building Size
12,250 SF
Asset Type
MultiFamily
Closing
Jun 26, 2019
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 14 E 69th Street in the Upper East Side of Manhattan and 4 Shelter Road in the Hamptons. The property is owned by the Kempf Family. The transaction took place between the buyer and seller, with the representation of Black Mountain Capital as the broker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,700,000
- Date: 06/27/2019
- Address: 14 E 69th Street, 4 Shelter Road
- Market: UES/Manhattan, Hamptons/Long Island
Hirshmark Capital provided a loan amount of $12,700,000 for this transaction. The loan terms include a 7.25% interest rate with an interest-only period. The square footage of the property is 12,250. It is worth mentioning that Hirshmark Capital is actively lending in the 7% range in the boroughs.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93