Selected Transactions for 2014

  • Brooklyn Loan Portfolio Purchase – Debt Acquisition

    Brooklyn Loan Portfolio Purchase – Debt Acquisition

    $3,300,000

    Loan Purchase

    December 2014

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    Hirshmark Capital is proud to announce the purchase of a package of seven non-performing loans with a current unpaid balance of $3.3MM from a local lending institution. The portfolio included 20 residential units and 8 retail units located throughout Brooklyn (Boerum Hill, Caroll Gardens, Bed-Stuy, Gravesend and Sunset Park). Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Five Borough Loan Portfolio Purchase – Debt Acquisition

    Five Borough Loan Portfolio Purchase – Debt Acquisition

    $4,100,000

    Loan Purchase

    December 2014

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    Hirshmark Capital is proud to announce the purchase of a package of five non-performing loans with a current unpaid balance of $4.1MM from a local lending institution. The portfolio included a commercial building containing 1 retail unit, a mixed-use building containing 3 residential units and 2 commercial units and 3 residential buildings containing 22 apartments. The properties are located throughout Brooklyn, Queens and the Bronx. Hirshmark Capital aggressively bid for the loans and was able to ensure that the lending institution had a dependable buyer that could easily close before the end of the year.

  • Bay Ridge New Construction Multi-Family – Debt Acquisition

    Bay Ridge New Construction Multi-Family – Debt Acquisition

    $1,700,000

    Loan Purchase

    December 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/-$1.7MM secured by a 12,800 SF 3 story newly constructed residential building with 8 units in the Bay Ridge neighborhood of Brooklyn. The seller, a local bank, needed someone they could rely on for a year-end close. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing loans.

  • Greenpoint Multi-Family – Debt Acquisition

    Greenpoint Multi-Family – Debt Acquisition

    Loan Purchase

    December 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan secured by a 5,200 SF 4 Story residential building with 8 units in the Greenpoint neighborhood of Brooklyn. When presented with this opportunity, Hirshmark Capital aggressively conducted it’s due diligence in a matter of days, and signed a contract and closed on the loan within a matter of days.

  • Corona Portfolio – Bridge Loan

    Corona Portfolio – Bridge Loan

    Bridge Loan

    December 2014

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    Hirshmark Capital is proud to announce the closing of a short term bridge loan in the Corona neighborhood of Queens. The loan enabled the borrower to pay off their existing matured bridge loan on the property. The loan was secured by one retail property containing 6 commercial stores and one mixed-use property containing 4 commercial stores and 2 apartments.

  • Queens Unfinished New Construction Multi-Family – Debt Acquisition

    Queens Unfinished New Construction Multi-Family – Debt Acquisition

    $1,600,000

    Loan Purchase

    October 2014

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    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.

  • Brooklyn and Queens Loan Portfolio Purchase – Debt Acquisition

    Brooklyn and Queens Loan Portfolio Purchase – Debt Acquisition

    Loan Purchase

    October 2014

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    Hirshmark Capital is proud to announce the purchase of a package of three non-performing loans from a local lending institution. The portfolio included a mixed-use building in the Bedford-Stuyvesant section of Brooklyn, a multi-family building in Ridgewood Queens and a mixed-use building in Corona Queens. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Queens Stalled New Construction Multifamily

    Queens Stalled New Construction Multifamily

    $1,500,000

    Loan Purchase

    September 2014

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    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.

  • Sunset Park Loan Portfolio Purchase – Debt Acquisition

    Sunset Park Loan Portfolio Purchase – Debt Acquisition

    Loan Purchase

    September 2014

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    Hirshmark Capital is proud to announce the purchase of a package of loans collateralized by 3 properties in the Sunset Park neighborhood of Brooklyn. The portfolio included 2 retail buildings containing 5 stores and a mixed-use building containing 2 residential units and 2 commercial units. Hirshmark Capital aggressively bid for the loans and was able to ensure that the lending institution had a dependable buyer that could easily close before the end of the quarter.

  • Manhattan Mixed-Use – Debt Acquisition

    Manhattan Mixed-Use – Debt Acquisition

    Loan Purchase

    August 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan secured by a 10,000 SF mixed-use building located on the Bowery, in Manhattan. The seller, a local bank, needed someone they could rely on for a quick close when the loan became non-performing. Hirshmark Capital quickly and seamlessly conducted its due diligence and closed on the same day that contracts were executed, allowing the lending institution to clear its non-performing asset well ahead of schedule.

  • Queens Block-Front Retail/Supermarket – Debt Acquisition

    Queens Block-Front Retail/Supermarket – Debt Acquisition

    Loan Purchase

    August 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan secured by a 1-story 14,000 SF retail building, located in Queens Village. The seller, who was the previous owner of the property, had sold the property and taken back seller financing. Years later, the note become non-performing, and the note holder decided that he wanted to sell his position. When presented with the opportunity to purchase the debt, Hirshmark Capital provided a smooth and quick transaction, closing within three business days of a signed contract of sale.

  • Note Financing of 33 Unit Multi-Family in Yonkers

    Note Financing of 33 Unit Multi-Family in Yonkers

    Note Financing

    July 2014

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    Hirshmark Capital is proud to announce the origination of note financing, collateralized by an assignment of a loan secured by a 30,000 sf building, containing 33 apartments in Yonkers NY. The borrower, an established non-performing commercial note buyer, expressed an interest in leveraging their note purchase in order to enhance their returns. Hirshmark Capital was able to quickly accommodate the debt buyer with a unique and creative form of financing, by securing our position with the purchased note as collateral.

  • Sunset Park Mixed-Use – Debt Acquisition

    Sunset Park Mixed-Use – Debt Acquisition

    $1,450,000

    Loan Purchase

    July 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with an unpaid balance of +/- $1.45MM secured by two properties in Brooklyn, a 5,000 SF corner mixed-use building located in Sunset Park and a 4,000 SF multi-family building located in Bensonhurst. As always, Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase, allowing for the lending institution to sell the non-performing assets before the end of the quarter.

  • Queens Retail – Debt Acquisiton

    Queens Retail – Debt Acquisiton

    $1,400,000

    Loan Purchase

    June 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with an unpaid balance of +/- $1.4MM secured by a 7,000 SF corner retail building located along the busy stretch of Northern Blvd in Queens. The seller, a local bank, needed someone they could rely on for a quarter-end close. Hirshmark Capital was able to successfully underwrite, complete due diligence and close the transaction in under one week.

  • Harlem Mixed-Use – Debt Acquisiton

    Harlem Mixed-Use – Debt Acquisiton

    $1,450,000

    Loan Purchase

    June 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with an unpaid balance of +/- $1.45MM secured by a mixed-use building containing 4 retail and office commercial units in Harlem. As always, Hirshmark Capital’s expertise and comfort in complex legal issues led us to execute on the purchase of the non-performing debt.

  • Carroll Gardens Mixed-Use – Debt Acquisition

    Carroll Gardens Mixed-Use – Debt Acquisition

    Loan Purchase

    June 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan secured by a mixed-use building containing 4 residential units and 2 commercial units in the Carroll Gardens neighborhood of Brooklyn. When presented with this opportunity, Hirshmark Capital aggressively conducted its due diligence and closed within 3 business days of a verbally accepted offer.

  • Greenpoint Multi-Family – Debt Acquisiton

    Greenpoint Multi-Family – Debt Acquisiton

    $1,700,000

    Loan Purchase

    May 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/- $1.7MM secured by 2 multi-family buildings containing 24 residential units, in the Greenpoint neighborhood of Brooklyn. This loan purchase was underwritten and closed in five business days in a “sign and close” transaction.

  • Queens New Construction Multi-Family – Debt Acquisiton

    Queens New Construction Multi-Family – Debt Acquisiton

    $1,900,000

    Loan Purchase

    May 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/- $1.9MM secured by three newly constructed multifamily buildings containing 10 residential units, in the Middle Village neighborhood of Queens. Hirshmark Capital continues to purse the purchase of sub-performing and non-performing debt, with an emphasis on established neighborhoods in the five boroughs.

  • Williamsburg/Bushwick – Bridge Loan

    Williamsburg/Bushwick – Bridge Loan

    $3,100,000

    Bridge Loan

    April 2014

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    Hirshmark Capital is proud to announce the funding of a $3,100,000 bridge loan secured by four multi-family and mixed-use buildings, totaling 29 residential units and 2 commercial units, in the Williamsburg and Bushwick neighborhoods of Brooklyn. The borrower was being foreclosed upon, when he came to Hirshmark Capital seeking to recapitalize his properties. Hirshmark Capital worked closely with the borrower to work within a time of the essence situation and was also able to tailor a flexible repayment plan. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Three Loan Portfolio Purchase – Debt Acquisiton

    Three Loan Portfolio Purchase – Debt Acquisiton

    Loan Purchase

    April 2014

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    Hirshmark Capital is proud to announce the purchase of a package of three non-performing loans from a local lending institution. The portfolio included a mixed-use building in the Richmond Hill section of Queens, a mixed-use building in East Flatbush, Brooklyn and a multi-family building in Crown Heights, Brooklyn. As always, Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Brooklyn Loan Portfolio Purchase – Debt Acquisition

    Brooklyn Loan Portfolio Purchase – Debt Acquisition

    Loan Purchase

    March 2014

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    Hirshmark Capital is proud to announce the purchase of a package of three non-performing loans from a local lending institution. The portfolio included two mixed-use buildings in Crown Heights, a commercial building in Flatbush and a multi-family building in Bed-Stuy. Hirshmark Capital aggressively bid for the loans and was able to ensure that the lending institution had a dependable buyer that could easily close before the end of the quarter.

  • Crown Heights Mixed-Use – Bridge Loan

    Crown Heights Mixed-Use – Bridge Loan

    Bridge Loan

    February 2014

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    Hirshmark Capital is proud to announce the funding of a short term bridge loan in the Crown Heights neighborhood of Brooklyn. The loan was secured by a 3-story 5,000 SF mixed-use building containing 4 residential units and 2 commercial units located on a busy stretch of Utica Avenue. The loan enabled the borrower to pay off his current loan, which was the subject of ongoing foreclosure litigation. Hirshmark Capital was able to understand the borrower’s situation and assist the owner with this recapitalization.

  • Three Loan Portfolio Purchase – Debt Acquisiton

    Three Loan Portfolio Purchase – Debt Acquisiton

    Loan Purchase

    February 2014

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    Hirshmark Capital is proud to announce the purchase of a package of three non-performing loans from a local lending institution. The portfolio included a mixed-use building in the Bronx, a mixed-use building in Glendale, Queens and a multi-family building in Ridgewood, Queens. As always, Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Astoria Mixed-Use New Construction – Debt Acquisiton

    Astoria Mixed-Use New Construction – Debt Acquisiton

    $2,500,000

    Loan Purchase

    February 2014

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    Hirshmark Capital is proud to announce the purchase of three non-performing loans with a current unpaid balance of +/- $2,500,000 secured by a 6 story 15,000 SF mixed-use building that is  currently under construction in the Astoria neighborhood of Queens. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing debt and providing short term financing across all asset types.

  • Gowanus Mixed-Use Industrial – Debt Acquisiton

    Gowanus Mixed-Use Industrial – Debt Acquisiton

    $1,400,000

    Loan Purchase

    January 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/- $1,400,000 secured by a 3 story 6,100 SF mixed-use building containing 2 commercial units and 2 residential units in the Gowanus neighborhood of Brooklyn. As always, Hirshmark Capital’s expertise and comfort in complex legal issues led us to quickly execute on the purchase of the non-performing debt.

  • Gowanus Industrial – Debt Acquisiton

    Gowanus Industrial – Debt Acquisiton

    $900,000

    Loan Purchase

    January 2014

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    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/- $900,000 secured by a 8,500 SF industrial building in the Gowanus neighborhood of Brooklyn. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing debt and providing short term financing across all asset types.