Hirshmark Capital Provides $7M Bridge Loan For Retail Property On Lower East Side
114 Delancey Street, New York City, New York 10002, United States
$7,000,000
$280,000/SF
Building Size
25 SF
Asset Type
Retail
Closing
Apr 17, 2023
About this deal
AI
An retail property located at 114 Delancey St in the Lower East Side of Manhattan has recently been involved in a closed property transaction. The property spans approximately 25,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Date: 11/29/2022
- Address: 114 Delancey St
- Market: Lower East Side, Manhattan
- Lender: Hirshmark Capital
- Loan Type: Bridge
- Landlord: Baruch Singer
The lender for this transaction was Hirshmark Capital, represented by Jake Soodek and Igor Vaysberg. The landlord of the retail property was Baruch Singer.
On the Map
$7,000,000
$280,000/SF
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93