Updated Oct 9, 2026
Jake Soodek Of Hirshmark Capital Provides $6.25M Loan For Brooklyn Multifamily Acquisition
597 Grand Avenue
$6,250,000
$104/SF
Building Size
60,000 SF
Asset Type
MultiFamily
Closing
Dec 23, 2025
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 597 Grand Avenue in Brooklyn. The total square footage of the asset is 60,000, comprising 52 units. The transaction was facilitated through an acquisition loan amounting to $6,250,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,250,000
- Address: 597 Grand Avenue
- Market: Brooklyn
- Asset Size: 60,000 SF
- Units: 52
- Lender: Jake Soodek - Hirshmark Capital
- Loan Type: Acquisition
The key individual involved in the deal is Jake Soodek, representing Hirshmark Capital as the lender, facilitating the acquisition loan for this multifamily property. This transaction highlights the collaboration between the lender and the property stakeholders in securing financing for the acquisition.
On the Map
$6,250,000
$104/SF
MultiFamily
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Brooklyn 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
2.54%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93