Queens Unfinished New Construction Multi-Family – Debt Acquisition

Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid principal balance of +/- $1.6MM secured by 2 contiguous unfinished new construction buildings containing 12,000 SF and 14 residential units located in the Corona neighborhood of Queens. While other potential buyers shied away from the sale due to an issue with the Certificate of Occupancy, Hirshmark Capital aggressively bid for the loan and closed seamlessly within days of a signed contract.