facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Loan

/

422 West 49th Street, Manha...

Hirshmark Capital Provides $9.2M Loan For Multifamily Property In Hell's Kitchen
FINANCEDMultiFamily

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

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

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.

Players

Jake Soodek

Broker

$208.8M

vol

35 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender
Anthony Morena

Anthony Morena

Mortar Group

Landlord

$69.3M

vol

12 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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