Bert R. Dweck Acquires Package Deal In Manhattan & Brooklyn For $21.5M With Loan From Hirshmark Capital & Rep By Joshua Pollack
FINANCED
$21,500,000
New York
See Similar DealsOffice121,000 SF
Financed 11/06/2023
FINANCED
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
See Similar DealsOffice121,000 SF
Financed 11/06/2023
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$177
Total Square Footage:121,000 SF
Transaction Type:Loan
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
LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,500,000.00
Monthly NOI$143,333.33
Monthly Debt Service$135,894.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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