Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Address: 352 State Street
- Market: Boerum Hill
- Lender: Hirshmark Capital - Jake Soodek
- Landlord: Robert Knuth
- Broker: Peter Cohen
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.
On the Map
$2,500,000
$500/SF
MultiFamily
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Players
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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