Long Island City Multifamily – Debt Acquisition

 

Hirshmark Capital is proud to announce the purchase of a non-performing loan collateralized by a multifamily building in the Long Island City neighborhood of Queens. The collateral is a 5,000 SF, 4-story, brick building, containing 8 residential units. The property is a few blocks away from a major subway stop, allowing for a ten minute commute into Manhattan. The seller, a local lending institution, demanded a quick closing. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing loans.