Astoria (New Construction) Mixed-Use – Bridge Loan

Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid principal balance of $1.8MM secured by a 4 story 6,800 SF new construction, mixed-use building containing 5 residential units and 1 commercial unit in the Astoria neighborhood of Queens. While other potential buyers shied away from the complicated sale due to the property not having a final Certificate of Occupancy, Hirshmark Capital was able to see the potential and seamlessly close the transaction. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing loans.