Updated Mar 4, 2025
Hirshmark Capital Provides $2 Million Acquisition Loan For Multifamily Property In Upper East Side
322 East 79th Street, New York City, New York 10075, United States
$2,000,000
$307/SF
Building Size
6,500 SF
Asset Type
MultiFamily
Closing
Jul 1, 2022
About this deal
AI
The property asset located at 322 E. 79th St. is a multifamily type covering a square footage of 6,500. The asset is situated in the Upper East Side of Manhattan and involved a loan transaction amounting to $2,000,000 designated for acquisition purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Lender: Hirshmark Capital
- Representative: Bert R. Dweck
- Transaction Date: 07/01/2022
- Market: Upper East Side, Manhattan
The deal was facilitated by Bert R. Dweck who represented Hirshmark Capital in this transaction. The acquisition loan indicates a strategic investment in the multifamily asset within a sought-after market area.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93