Prospect Heights Multifamily – Property Acquisition


Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a multifamily property in the Prospect Heights neighborhood of Brooklyn. 741 Washington is a 3-story brick building, that is 6,000 SF.  The property is a few blocks north of Prospect Park and just a couple of blocks from the B, Q, 2, and 3 trains. Hirshmark purchased the asset, at a going in sub 3% capitalization rate, with 5 out of 6 apartments rent-stabilized, allowing for upside. The property was purchased in under 30 days in an all cash transaction. This is yet another example of our aggressive appetite in acquiring well trafficked and unique commercial properties throughout NYC.
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