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
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