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34-39 31st Street

Hirshmark Capital Provides $8.1 Million Bridge Loan For Retail Property In Astoria, Queens
FINANCEDRetail

Hirshmark Capital Provides $8.1 Million Bridge Loan For Retail Property In Astoria, Queens

34-39 31st Street

$8,100,000

$506/SF

Building Size

16,000 SF

Asset Type

Retail

Closing

Aug 3, 2022

AI

The retail property located at 34-39 31st St. in Astoria, Queens, has been involved in a closed transaction. The property spans approximately 16,000 square feet and is situated in the Astoria market.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $8,100,000
  • Lender: Hirshmark Capital
  • Landlord: Steve Lysohir
  • Broker: Jake Soodek - Hirshmark Capital
  • Loan Type: Bridge

Jake Soodek, representing Hirshmark Capital, played a significant role in this deal as the broker. He facilitated the transaction between the lender and the landlord, securing a bridge loan amounting to $8,100,000 for the retail property on 34-39 31st St. in Astoria, Queens.

Players

Jake Soodek

Broker

$208.8M

vol

35 deals

Broker
Hirshmark Capital
Hirshmark CapitalLender

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.96%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93