Updated Dec 4, 2023
Hirshmark Capital Provides $3.5M Bridge Loan For Multifamily Property On Upper West Side
3 W 75th St New York, NY 10023, USA
$3,500,000
$506/SF
Building Size
6,914 SF
Asset Type
MultiFamily
Closing
Jun 28, 2023
About this deal
AI
A bridge loan in the amount of $3,500,000 was secured for a multifamily property located at 3 West 75th Street in the Upper West Side market. The property spans a total of 6,914 square feet and consists of 10 units. The loan was obtained from Hirshmark Capital, with Jake Soodek representing the lender. The landlord of the property is Castroleal Harper.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Address: 3 West 75th Street
- Market: Upper West Side
- Square Footage: 6,914
- Units: 10
- Lender: Hirshmark Capital - Jake Soodek
- Landlord: Castroleal Harper
This bridge loan transaction involved Jake Soodek from Hirshmark Capital representing the lender. The collaboration between Hirshmark Capital and Castroleal Harper resulted in the loan amount of $3,500,000 being secured for the multifamily property at 3 West 75th Street in the Upper West Side market.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93