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2931 Brighton 5th Street

Mark & John Schirripa Secure $5.4M Refinance Loan For 20-Unit Multifamily In Brighton Beach
FINANCEDMultiFamily

Mark & John Schirripa Secure $5.4M Refinance Loan For 20-Unit Multifamily In Brighton Beach

2931 Brighton 5th Street

$5,400,000

$360/SF

Building Size

15,000 SF

Asset Type

MultiFamily

Closing

Aug 9, 2024

AI

The asset involved in this transaction is a multifamily property located at 2931 Brighton 5th Street in Brighton Beach, Brooklyn. The property encompasses a total square footage of 15,000 and consists of 20 units. The loan amount secured for this property is $5,400,000, classified as a refinance loan.

Summary of transaction details:

The transaction involved key figures including Jake Soodek and Igor Vaysberg representing Hirshmark Capital as the lenders. Mark and John Schirripa acted as the landlords in this deal, while brokers Michael Feygelman and Alex Leykind from Equitas Capital Group facilitated the transaction.

Players

Alex Leykind

Equitas Capital Group

Broker

$478M

vol

75 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.94%

Cash-on-Cash

-0.84%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93