Updated Oct 28, 2024
Hirshmark Capital Provides $9.2M Loan For Multifamily Property In Hell's Kitchen
422 West 49th Street, Manhattan, New York, NY, USA
$9,200,000
$6,032/SF
Building Size
1,525 SF
Asset Type
MultiFamily
Closing
Jun 17, 2021
About this deal
AI
The multifamily property located at 422 West 49th Street in Hell’s Kitchen, Manhattan, has been involved in a recent transaction. The loan for this property was provided by Hirshmark Capital, with a loan amount of $9,200,000. The landlord of the property is Anthony Morena from Mortar Arch+Dev. The broker representing the deal is Jake Soodek from Hirshmark Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,200,000
- Address: 422 West 49th Street, Hell’s Kitchen, Manhattan
- Market: Hell’s Kitchen, Manhattan
- Lender: Hirshmark Capital
- Landlord: Anthony Morena - Mortar Arch+Dev
- Broker: Jake Soodek - Hirshmark Capital
The involvement of key individuals and companies in this transaction highlights the collaborative effort and expertise behind the deal. Hirshmark Capital provided the loan for the property, while Anthony Morena represents Mortar Arch+Dev as the landlord. The broker, Jake Soodek from Hirshmark Capital, played a crucial role in facilitating the transaction. This successful deal adds to the dynamic real estate market in Hell’s Kitchen, Manhattan.
On the Map
$9,200,000
$6,032/SF
MultiFamily
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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
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93