Hirshmark Capital Provides $2.85M Bridge Loan For Multifamily Property On 309 West 43rd Street
FINANCED
$2,850,000
New York
See Similar DealsMultiFamily10,000 SF
Financed 12/30/2022
FINANCED
Hirshmark Capital Provides $2.85M Bridge Loan For Multifamily Property On 309 West 43rd Street
309 West 43rd Street
See Similar DealsMultiFamily10,000 SF
Financed 12/30/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$285
Total Square Footage:10,000 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 309 West 43rd Street in New York City. The property spans approximately 10,000 square feet. The loan for this transaction was provided by Hirshmark Capital, with Jake Soodek representing the lender. The landlord of the property is Mitchel Maidman. The broker involved in this deal is Michael Bivona, representing Victory Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,850,000
- Lender: Hirshmark Capital - Jake Soodek
- Landlord: Mitchel Maidman
- Broker: Michael Bivona - Victory Capital
The loan amount for this transaction is $2,850,000, and the loan type is bridge financing.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,850,000.00
Monthly NOI$19,000.00
Monthly Debt Service$18,013.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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