Hirshmark Capital Provides $10M Bridge Loan For Multifamily Property In Williamsburg Brooklyn
340 Metropolitan Avenue, Brooklyn, New York 11211, United States
$10,000,000
$666/SF
Building Size
15,000 SF
Asset Type
MultiFamily
Closing
Mar 28, 2022
AI
The property involved in this closed transaction is a multifamily building located at 340 Metropolitan Ave in Williamsburg, Brooklyn. The building has a total square footage of 15,000 and consists of 11 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Loan Type: Bridge
- Lender: Hirshmark Capital
- Landlord: Mortar Arch - Anthony Morena
- Broker: Jake Soodek - Hirshmark Capital
The loan amount for this transaction was $10,000,000, and it was classified as a bridge loan. Hirshmark Capital served as the lender for this deal. The landlord of the property is Mortar Arch, represented by Anthony Morena. The broker involved in the transaction is Jake Soodek, who represents Hirshmark Capital.
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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93