Selected Transactions for 2015

  • Crown Heights Mixed Use – Bridge Loan

    Crown Heights Mixed Use – Bridge Loan

    Bridge Loan

    December 2015

    291686

    Hirshmark Capital is proud to announce the funding of a bridge loan secured by a 4-story mixed-use building, in the Crown Heights neighborhood of Brooklyn. The property consists of roughly 8,000 sf, including almost 100 feet of retail frontage on a major retail corridor. The property is situated just a few blocks from major subway lines. The borrower was seeking to recapitalize the property and deal with a pending foreclosure. Hirshmark Capital worked closely with the borrower and accommodated the time of the essence transaction. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Queens Unsold Cooperative Residential Shares – Debt Acquisition

    Queens Unsold Cooperative Residential Shares – Debt Acquisition

    Loan Purchase

    December 2015

    4981514

    Hirshmark Capital is proud to announce the purchase of a non-performing loan from a local lending institution. The loan is secured by 21 unsold cooperative apartments within a 16-buiilding, 617-unit residential complex in the Astoria neighborhood of Queens. The complex is situated on the same block as a number of national retailers, as well a subway entrance for two main train lines. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Queens Industrial Warehouse – Debt Acquisition

    Queens Industrial Warehouse – Debt Acquisition

    $1,000,000

    Loan Purchase

    December 2015

    4345332

    Hirshmark Capital is proud to announce the purchase of a non-performing loan and related credit lines, with a current unpaid balance of roughly $1MM from a local lending institution. The loan is secured by a 20,000 SF, 2 story warehouse building in the Glendale neighborhood of Queens. The collateral boasts almost 200 sf of frontage on a busy stretch of a highly in demand industrial and manufacturing district. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Bronx 8 Retail Units/Tax Payer – Debt Acquisition

    Bronx 8 Retail Units/Tax Payer – Debt Acquisition

    $3,500,000

    Loan Purchase

    November 2015

    8539857

    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of $3.5MM from a local lending institution. The loan is secured by a 9,700 SF 1 story brick building containing 8 commercial units in the Bronx. The collateral boasts almost 200 feet of retail frontage, and also contains 34,000 sf of buildable air rights. It is situated on the same block as a number of national retailers, as well a subway entrance for two main train lines. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt, as well as overall comfort in the retail centric asset class, led to a quick and seamless purchase.

  • Brooklyn Multifamily & Manhattan SRO – Bridge Loan

    Brooklyn Multifamily & Manhattan SRO – Bridge Loan

    $1,800,000

    Bridge Loan

    November 2015

    1547936

    Hirshmark Capital is proud to announce the funding of two (2) related bridge loans for a total amount of $1.8MM. The loans were secured by a 4 story residential building containing 16 residential units in the Bensonhurst area of Brooklyn and a 3 story SRO building in the Central Harlem area of Manhattan.  The borrower, a local investor, came to Hirshmark Capital seeking financing for their time of the essence closing on the purchase of the SRO property. Hirshmark Capital worked closely with the borrower and provided financing for 100% of the purchase price in under ten business days. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Manhattan Development Site – Bridge Loan

    Manhattan Development Site – Bridge Loan

    $5,000,000

    Bridge Loan

    October 2015

    3181263

    Hirshmark Capital is proud to announce the funding of a $5MM leveraged financing of a mortgage secured by a development site containing 51,000 buildable square feet, and over 165 feet of frontage, on the busy retail corridor of 125th Street in the Harlem section of Manhattan. Our borrower, an active bridge lender, was able to increase their internal returns on their bridge loan, by leveraging it with our custom tailored financing, which provided both a single digit interest rate and flexible repayment terms. This is yet another example of Hirshmark Capital’s aggressive appetite in providing diverse short term bridge financing in a time sensitive manner.

  • East Williamsburg Mixed Use – Bridge Loan

    East Williamsburg Mixed Use – Bridge Loan

    $1,500,000

    Bridge Loan

    October 2015

    7086151

    Hirshmark Capital is proud to announce the funding of a $1.5MM bridge loan secured by a 3 story building along the active retail corridor of Grand Street in East Williamsburg, Brooklyn.  The borrower came to Hirshmark Capital seeking capital for other business purposes.  This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Manhattan Mixed Use – Bridge Loan

    Manhattan Mixed Use – Bridge Loan

    Bridge Loan

    October 2015

    4008302

    Hirshmark Capital is proud to announce the funding of a bridge loan secured by a 4 story building along the busy stretch of 7th Avenue in Manhattan. The borrower came to Hirshmark Capital seeking to recapitalize his property and deal with a pending foreclosure. Hirshmark Capital worked closely with the borrower and accommodated the time of the essence transaction. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Gowanus/Sunset Park – Debt Acquisition

    Gowanus/Sunset Park – Debt Acquisition

    Non-Performing Loan Package

    September 2015

    9394176

    Hirshmark Capital is proud to announce the purchase of a package of four non-performing loans from a local lending institution. The portfolio included 7 buildings containing 4 residential units and 11 commercial units located throughout Brooklyn (Gowanus and Sunset Park) and 1 property in Woodside Queens. Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing loans.

  • Bushwick – Construction Loan

    Bushwick – Construction Loan

    Construction Loan

    September 2015

    _9018351

    Hirshmark Capital is proud to announce the funding of a construction loan secured by a 53,000 SF buildable parcel in the Bushwick neighborhood of Brooklyn. The borrowers, who are experienced builders, are building a mixed-use building that will contain 37 residential units and 2 commercial units. The borrower came to Hirshmark Capital seeking a lender who could close in a time sensitive manner, without any substantial underwriting requirements. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing.

  • Ditmas Park Multi-Family – Debt Acquisition

    Ditmas Park Multi-Family – Debt Acquisition

    $1,300,000

    Loan Purchase

    September 2015

    _8734660

    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/-$1.3MM secured by a 6 story 30,000 SF residential building containing 30 residential units in the Ditmas Park 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.

  • Bed-Stuy Mixed-Use – Bridge Loan

    Bed-Stuy Mixed-Use – Bridge Loan

    $1,000,000

    Bridge Loan

    August 2015

    _2701759

    Hirshmark Capital is proud to announce the funding of a $1MM loan secured by a 4 story mixed-use building totaling 3 residential units and 1 commercial store in the Bed-Stuy neighborhood of Brooklyn. The borrower came to Hirshmark Capital seeking to recapitalize his property and deal with a pending foreclosure. Hirshmark Capital was able to understand the borrower’s situation and assist the owner with this recapitalization.

  • Astoria Mixed-Use Package – Bridge Loan

    Astoria Mixed-Use Package – Bridge Loan

    $1,850,000

    Bridge Loan

    August 2015

    _3338468

    Hirshmark Capital is proud to announce the funding of a $1.85MM loan secured by two adjacent mixed-use buildings totaling 6 residential units and 2 commercial stores in the Astoria neighborhood of Queens. The borrower had a time of the essence contract on the properties and needed fast access to funds to ensure he could perform. Hirshmark Capital worked closely with the borrower and accommodated the time of the essence transaction. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Brooklyn Non-Performing Loan Package

    Brooklyn Non-Performing Loan Package

    $1,200,000

    Non-performing Loan

    July 2015

    _3674693

    Hirshmark Capital is proud to announce  the purchase of a package of three non-performing loans with a current unpaid balance of $1.2MM from a local lending institution. The portfolio included 3 buildings containing 13 residential units and 4 commercial units located throughout Brooklyn (Crown Heights, Lefferts Gardens and East New York). Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase. This is yet another example of Hirshmark Capital’s aggressive appetite in purchasing non-performing loans.

  • Bed-Stuy Mixed-Use – Bridge Loan

    Bed-Stuy Mixed-Use – Bridge Loan

    $1,000,000

    Loan Purchase

    June 2015

    _8522299

    Hirshmark Capital is proud to announce the purchase of a non-performing loan with a current unpaid balance of +/-$1MM secured by a 5,600 SF 3 story mixed-use building containing 1 commercial unit and 4 residential units located in the Bed-Stuy neighborhood of Brooklyn. As always, Hirshmark Capital’s expertise and comfort in complex legal issues led us to quickly execute on the purchase on the non-performing debt.

  • Astoria (New Construction) Mixed-Use – Bridge Loan

    Astoria (New Construction) Mixed-Use – Bridge Loan

    $1,800,000

    Loan Purchase

    May 2015

    _7636443

    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.

  • Brooklyn Bridge Loans

    Brooklyn Bridge Loans

    Bridge Loans

    April 2015

    _9156529

    Brooklyn Bridge Loan – The funding of a $1.7MM bridge loan secured by a new construction 8 unit residential building in the Bay Ridge neighborhood of Brooklyn.
    Bronx Loan Purchase – The purchase of a loan secured by a 10,000 SF commercial building in the Hunts Point neighborhood of the Bronx.
    Brooklyn Bridge Loan –  The funding of a $1.2 MM bridge loan secured by a residential property in Bed-Stuy.
    Brooklyn Bridge Loan –  The funding of a $400K bridge loan secured by a mixed-use property containing 2 residential units and 3 commercial units in East Flatbush.
    Brooklyn Bridge Loan –  The funding of a $550K bridge loan secured by a mixed-use property containing 3 residential units and 2 commercial units in the Flatbush neighborhood of Brooklyn..

  • Bed-Stuy Multi-Family – Bridge Loan

    Bed-Stuy Multi-Family – Bridge Loan

    $1,250,000

    Bridge Loan

    April 2015

    _9195763

    Hirshmark Capital is proud to announce the funding of a $1.25MM loan secured by a multi-family building containing 9 residential units in the Bed-Stuy neighborhood of Brooklyn. The loan enabled the borrower to pay off his current loan, which had recently matured. Hirshmark Capital was able to understand the borrower’s situation and assist the owner with this recapitalization.

  • Brooklyn Loan Portfolio Purchase – Debt Acquisition

    Brooklyn Loan Portfolio Purchase – Debt Acquisition

    $4,000,000

    Loan Purchase

    April 2015

    _8029015

    Hirshmark Capital is proud to announce the purchase of a package of four sub-performing loans with a current unpaid balance of $4MM from a local lending institution. The portfolio included 4 buildings containing 17 residential units and 2 retail units located throughout Brooklyn (East Williamsburg, Fort Greene and Bed-Stuy). Hirshmark Capital’s expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • East Village Retail Condo – Commercial Property Acquisition

    East Village Retail Condo – Commercial Property Acquisition

    Condo Purchase

    March 2015

    _9898270

    Hirshmark Capital is proud to announce the purchase of a first floor retail condominium located in the East Village. The condo, consists of three contiguous retail spaces totaling 2,371 SF on the ground and 1,622 SF on the lower level. The property contains 49′ of frontage on First Avenue, along with 70′ of frontage on East 5th. The purchase was sourced off-market by Hirshmark Capital’s Jake Soodek. Hirshmark Capital closed on the purchase at a capitalization rate well below 3%.

  • Flatbush Mixed-Use – Bridge Loan

    Flatbush Mixed-Use – Bridge Loan

    $1,100,000

    Bridge Loan

    January 2015

    _8617149

    Hirshmark Capital is proud to announce the funding of a $1.1MM loan secured by two adjacent mixed-use buildings totaling 8 residential units and 2 commercial stores in Flatbush neighborhood of Brooklyn. The borrower came to Hirshmark Capital seeking to recapitalize his property and deal with a pending foreclosure. Hirshmark Capital worked closely with the borrower and accommodated the time of the essence transaction. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.