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

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FINANCED
$9,200,000

New York

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MultiFamily1,525 SF
Financed 06/18/2021
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Property Image
FINANCED

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

422 West 49th Street, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily1,525 SF
Financed 06/18/2021
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$6,032
Total Square Footage:1,525 SF
Transaction Type:Loan

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

34 deals$204.6M volume(212) 321-0421
BROKER

Anthony Morena
12 deals$69.3M volume
BROKER

Hirshmark Capital
LENDER

Anthony Morena
12 deals$69.3M volume
LANDLORD

Anthony Morena
12 deals$69.3M volume
LANDLORD

Anthony Morena
12 deals$69.3M volume
LANDLORD

Details

FINANCED
IMAGE: Jake Soodek DATE: 06/18/2021 ADDRESS: 422 West 49th Street MARKET: Hell’s Kitchen, Manhattan ASSET TYPE: Multifamily LENDER: Hirshmark Capital LANDLORD: Anthony Morena - Mortar Arch+Dev BROKER: Jake Soodek (@JakeSoodek) - Hirshmark Capital LOAN AMOUNT: $9,200,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,200,000.00

Monthly NOI$61,333.33
Monthly Debt Service$58,150.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00