Hirshmark Capital Provides $2.85M Bridge Loan For Multifamily Property On 309 West 43rd Street
309 West 43rd Street
$2,850,000
$285/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Dec 30, 2022
AI
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.
Players
New York City 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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93