Jake Soodek Of Hirshmark Capital Provides $4.25M Refinance Loan For Retail Property In Rockaway Park
2 34 Beach 102 Street
$4,250,000
$170/SF
Building Size
25,000 SF
Asset Type
Retail
Closing
Dec 17, 2025
AI
The asset involved in the transaction is a retail property located at 2-34 Beach 102 Street in the Rockaway Park market. The property has a total square footage of 25,000. The loan amount for this refinance transaction is $4,250,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,250,000
- Address: 2-34 Beach 102 Street
- Market: Rockaway Park
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Steven Newman
- Landlord's Representative: Isaac Filler, Steven Edelstein & Yossi Koschitzki - Filler Capital
- Loan Type: Refinance
Key individuals involved in the transaction include Jake Soodek, who is representing Hirshmark Capital as the lender, and Steven Newman, the landlord of the property. The landlord's representation was managed by Isaac Filler, Steven Edelstein, and Yossi Koschitzki from Filler Capital, facilitating the refinance process for the landlord's asset.
Players
Rockaway Park 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
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93