Queens Stalled New Construction Multifamily

Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of $1.5MM secured by five (5) 3-story (new construction) residential buildings containing 15 residential units in the Hollis neighborhood of Queens. While other potential buyers shied away from the complicated loan sale due to the property not having a final Certificate of Occupancy, Hirshmark Capital was able to see the potential and seamlessly closed the transaction before the end of the quarter. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non performing loans.