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4116 9th Avenue

Updated Nov 4, 2023

Hal Goldberg's Cee Gee Inwood LLC Secures $14.75M Refinance Loan For Inwood, Manhattan Properties
FINANCEDSchool

Hal Goldberg's Cee Gee Inwood LLC Secures $14.75M Refinance Loan For Inwood, Manhattan Properties

4116 9th Avenue

$14,750,000

$154/SF

Building Size

95,232 SF

Asset Type

School

Closing

Aug 21, 2023

About this deal

AI

The three adjoining properties in Inwood, Manhattan have undergone a significant financial transaction. Hal Goldberg's Cee Gee Inwood LLC secured a $14.75 million refinance loan from Hirshmark Capital's 401 W219 Funding LLC. These properties consist of an office building located at 4116 9th Avenue, as well as two school buildings situated at 417 and 409 West 219th Street. The total square footage of these assets amounts to 95,232 square feet, with a total building square footage (BSF) of 306,200. The loan was executed on 08/21/2023.

Summary of transaction details

  • Property Type: School
  • Transaction Amount: $14,750,000
  • BSF: 306,200
  • SF: 95,232
  • Loan Type: Refinance
  • Lender: Hirshmark Capital - Igor Vaysberg
  • Landlord: Hal Goldberg

This transaction involves two significant parties. Hal Goldberg, the landlord of the properties, successfully obtained the refinance loan from Hirshmark Capital. The loan was facilitated by Hirshmark Capital's 401 W219 Funding LLC and executed with the assistance of Igor Vaysberg, who served as the lender's representative throughout the deal.

Players

Hirshmark Capital
Hirshmark CapitalLender

Hal Goldberg

Landlord

$29.5M

vol

2 deals

Landlord

New York School Market Snapshot

Boundary boundary · School · Loan transactions

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Deal FAQ

About $154 per square foot on a published $14.8M for 95,232 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.08%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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