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3 W 75th St New York, NY 10...

Updated Dec 4, 2023

Hirshmark Capital Provides $3.5M Bridge Loan For Multifamily Property On Upper West Side
FINANCEDMultiFamily

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

Hirshmark Capital
Hirshmark CapitalLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $506 per square foot on a published $3.5M for 6,914 square feet (2023).

Browse New York multifamily loans on Traded.

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

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