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6 West 48th Street

Bert R. Dweck Acquires Package Deal In Manhattan & Brooklyn For $21.5M With Loan From Hirshmark Capital & Rep By Joshua Pollack
FINANCEDOffice

Bert R. Dweck Acquires Package Deal In Manhattan & Brooklyn For $21.5M With Loan From Hirshmark Capital & Rep By Joshua Pollack

6 West 48th Street & 172 3rd Avenue

$21,500,000

$177/SF

Building Size

121,000 SF

Asset Type

Office

Closing

Nov 6, 2023

AI

Bert R. Dweck of Hirshmark Capital and Joshua Pollack of FM Capital⁠ recently closed on a loan for a package deal in Manhattan and Brooklyn. The properties involved in this transaction are located at 6 West 48th Street in Manhattan and 172 3rd Avenue in Brooklyn. The package deal consists of a total of 60,500 square feet of space.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $21,500,000
  • Loan Type: Acquisition
  • Lender: Bert R. Dweck - Hirshmark Capital
  • Broker: Joshua Pollack - FM Capital⁠

Bert R. Dweck from Hirshmark Capital and Joshua Pollack from FM Capital⁠ facilitated the loan for this acquisition. The loan amount for the package deal was $21,500,000. This loan will support the acquisition of the properties at 6 West 48th Street and 172 3rd Avenue.

Players

Bert R. Dweck

Hirshmark Capital

Broker

$105.8M

vol

23 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender

New York Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93