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352 State Street

Hirshmark Capital Refinances Boerum Hill Multifamily For $2.5M
FINANCEDMultiFamily

Hirshmark Capital Refinances Boerum Hill Multifamily For $2.5M

352 State Street

$2,500,000

$500/SF

Building Size

5,000 SF

Asset Type

MultiFamily

Closing

Jun 5, 2024

AI

The multifamily property located at 352 State Street in Boerum Hill spans 5,000 square feet. The property was refinanced with a loan amount of $2,500,000 provided by Hirshmark Capital. The landlord overseeing this asset is Robert Knuth, with Peter Cohen from an undisclosed brokerage representing the deal along with Jake Soodek from Hirshmark Capital.

Summary of transaction details:

The deal was facilitated with Jake Soodek of Hirshmark Capital, serving as the lender's representative. Peter Cohen, from an undisclosed brokerage, acted as the broker in this transaction on behalf of the landlord, Robert Knuth. The refinance loan provided a financial boost to the property under Robert Knuth's ownership.

Players

Peter Cohen

Broker

$44.6M

vol

9 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender

Brooklyn 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

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93