Hirshmark Capital Provides $8.1 Million Bridge Loan For Retail Property In Astoria, Queens
FINANCED
$8,100,000
New York
See Similar DealsRetail16,000 SF
Financed 08/03/2022
FINANCED
Hirshmark Capital Provides $8.1 Million Bridge Loan For Retail Property In Astoria, Queens
34-39 31st Street
See Similar DealsRetail16,000 SF
Financed 08/03/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$506
Total Square Footage:16,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,100,000.00
Monthly NOI$54,000.00
Monthly Debt Service$51,197.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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