Hirshmark Capital Provides $10M Bridge Loan For Multifamily Property In Williamsburg Brooklyn
FINANCED
$10,000,000
New York
See Similar DealsMultiFamily15,000 SF
Financed 03/29/2022
FINANCED
Hirshmark Capital Provides $10M Bridge Loan For Multifamily Property In Williamsburg Brooklyn
340 Metropolitan Avenue, Brooklyn, New York 11211, United States
See Similar DealsMultiFamily15,000 SF
Financed 03/29/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$666
Total Square Footage:15,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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