Hirshmark Capital Provides $4M Construction Loan For Multifamily Project In Brooklyn
FINANCED
$4,000,000
New York
See Similar DealsMultiFamily25,000 SF
Financed 09/13/2021
FINANCED
Hirshmark Capital Provides $4M Construction Loan For Multifamily Project In Brooklyn
571 Ocean Parkway, Brooklyn, NY 11218
See Similar DealsMultiFamily25,000 SF
Financed 09/13/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$160
Total Square Footage:25,000 SF
Transaction Type:Loan
A construction loan has been secured for a multifamily property located at 571 Ocean Parkway in Brooklyn. The asset encompasses approximately 25,000 square feet and features a total of 30 units. The loan, amounting to $4,000,000, was provided by Hirshmark Capital. Alex Nad is the landlord of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Address: 571 Ocean Parkway, Brooklyn
- Market: Brooklyn
- Square Footage: 25,000
- Number of Units: 30
Jake Soodek from Hirshmark Capital and Max Goveia from Leviathan Capital acted as brokers in this deal representing their respective agencies.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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