Selected Transactions for 2017

  • Long Island City Retail/Development Site – Non-Performing Loan Purchase

    Long Island City Retail/Development Site – Non-Performing Loan Purchase

    $2,900,000

    Commercial Debt Acquisition

    December 2017

    Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a non-performing loan, secured by a retail building in the Long Island City neighborhood of Queens. The subject property is a 10,000 SF building with 20,000 buildable SF. The property is a few blocks from the N and W trains. The seller, a local lending institution, demanded a quick closing. Our expertise and comfort in purchasing non-performing debt led to a quick and seamless purchase.

  • Park Slope Multifamily – Renovation/Bridge Loan

    Park Slope Multifamily – Renovation/Bridge Loan

    $2,450,000

    Bridge Loan

    December 2017
    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,450,000 renovation/bridge loan secured by a 4-story building in the Park Slope neighborhood of Brooklyn. The subject property is a 5,100 SF brownstone that is being converted into three  condominium units. The property is in the heart of Park Slope, just blocks away from Barclays. The borrower needed capital to complete the interior renovations, allowing him to finish the condo conversion. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Downtown Brooklyn – Bridge Loan

    Downtown Brooklyn – Bridge Loan

    $11,500,000

    Bridge Loan

    December 2017
    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $11,500,000 bridge loan secured by a multifamily building in downtown Brooklyn. The subject property is a 5-story, 30,000 SF, elevator building. The borrower needed capital to finish construction and for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Prospect Heights & Crown Heights Multifamily – Bridge Loan

    Prospect Heights & Crown Heights Multifamily – Bridge Loan

    $1,200,000

    Bridge Loan

    November 2017

    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of two unrelated bridge loans this week totaling $1,200,000; a multifamily building in the Prospect Heights neighborhood of Brooklyn and a multifamily building in the Crown Heights neighborhood of Brooklyn. The properties are roughly 16,000 SF in total, 14 units, and both well located. The borrowers needed capital in order to renovate their buildings, as well as for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Bedford-Stuyvesant Multifamily – Bridge Loan

    Bedford-Stuyvesant Multifamily – Bridge Loan

    $1,800,000

    Bridge Loan

    November 2017

    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,800,000 bridge loan secured by a multifamily building in the Bedford-Stuyvesant neighborhood of Brooklyn. The subject property is a 4-story, 8,000 SF brick building, with 16 apartments. The borrower needed capital for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Park Slope Condo Conversion – Property Acquisition

    Park Slope Condo Conversion – Property Acquisition

    $2,225,000

    Property Acquisition

    November 2017

    Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a 3-family property in the Park Slope neighborhood of Brooklyn. 315 6th Street is a 3-story brick building, that is 3,000 SF. The property, delivered vacant, will be redeveloped into luxury condominiums for resale. This is yet another example of our aggressive appetite in acquiring value add and unique commercial properties throughout NYC.

  • Bushwick Multifamily – Property Acquisition

    Bushwick Multifamily – Property Acquisition

    $1,900,000

    Commercial Property Acquisition

    November 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce, via two separate transactions in October, the purchase of two multifamily buildings, totaling 14 rent-stabilized apartments, in the Bushwick neighborhood of Brooklyn. The two buildings span north of 12,000 SF. Hirshmark plans to institute a range of renovations to update these under-managed buildings. This is yet another example of our aggressive appetite in acquiring unique commercial properties throughout NYC.

  • Bedford Stuyvesant Mixed-Use – Bridge Loan

    Bedford Stuyvesant Mixed-Use – Bridge Loan

    $2,900,000

    Bridge Loan

    October 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,900,000 bridge loan secured by two mixed-use properties in Bedford Stuyvesant and one multifamily property in Clinton Hill. The subject collateral totals roughly 15,000 SF, 2 stores, and 11 apartments. The borrower needed capital to refinance and to renovate the properties. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Bedford Stuyvesant Multifamily – Bridge Loan

    Bedford Stuyvesant Multifamily – Bridge Loan

    $1,200,000

    Bridge Loan

    October 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,200,000 bridge loan secured by a multifamily property in the Bedford Stuyvesant  neighborhood of Brooklyn. The subject property is a 4-story, 9,700 SF brick building, with 8 apartments. The property is in the heart of Bed-Stuy, just a few blocks from a major subway line. The borrower needed capital to refinance an existing loan. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Prospect Heights Land – Bridge Loan

    Prospect Heights Land – Bridge Loan

    $2,000,000

    Bridge Loan

    October 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,000,000 bridge loan secured by a development site in the Prospect Heights neighborhood of Brooklyn. The subject property is an irregular lot with 100 feet of frontage on a parcel of land with M1 zoning. As of right, there is roughly 12,200 BSF, however the borrower is working towards a variance to build 26,000 SF of residential. The property is in the heart of Prospect Heights, just two blocks from Barclays Center. The borrower needed capital for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Bronx Multifamily – Bridge Loan

    Bronx Multifamily – Bridge Loan

    $3,600,000

    Bridge Loan

    September 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $3,600,000 bridge loan secured by 6 properties in the Bronx. In total, the collateral is roughly 48,000 SF and consists of 59 residential units and 1 store. The properties are in close proximity to Fordham University. The borrower needed capital to refinance and pay off violations on the buildings. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Williamsburg Retail/Industrial – Bridge Loan

    Williamsburg Retail/Industrial – Bridge Loan

    $2,550,000

    Bridge Loan

    August 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,550,000 bridge loan secured by a retail/industrial building in the Williamsburg neighborhood of Brooklyn.  The subject property is a 10,000 SF, 2-story brick building. The building is blocks away from a major subway line and surrounded by similar retail/industrial buildings. The borrower needed capital to payoff a maturing loan and to renovate the building. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Carroll Gardens Multifamily – Bridge Loan

    Carroll Gardens Multifamily – Bridge Loan

    $1,100,000

    Bridge Loan

    August 2017
    260p
    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,100,000 bridge loan secured by a multifamily property in the Carroll Gardens neighborhood of Brooklyn. The subject property is a 4,400 SF, 5-story brick building, with 5 apartments. The property is in the heart of Carroll Gardens, blocks away from the heavily trafficked retail on Smith and Court Streets. The borrower needed capital to renovate the building. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Flushing Multifamily – Bridge Loan

    Flushing Multifamily – Bridge Loan

    $2,350,000

    Bridge Loan

    August 2017
    147th
    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,350,000 bridge loan secured by a multifamily building in the Flushing neighborhood of Queens. The subject property is a 4-story, 12,500 SF brick building, with 20 units. The property is just blocks away from the Main Street 7 train in Flushing. The borrower needed capital to payoff a matured loan and other liens on the property. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Queens Retail – Bridge Loan

    Queens Retail – Bridge Loan

    $950,000

    Bridge Loan

    August 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $950,000 bridge loan secured by a retail property in the Richmond Hill neighborhood of Queens. The subject property is a corner, 2-story building, with a bank on the ground floor, an office above, and a parking lot behind. The property boasts 90 feet of wraparound frontage and is just blocks from a major subway. The borrower needed capital to payoff several liens against the building. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Sunset Park Development Site – Acquisition Loan

    Sunset Park Development Site – Acquisition Loan

    $3,000,000

    Bridge Loan

    July 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $3,000,000 acquisition loan secured by a mixed-use property and a retail strip in the Sunset Park neighborhood of Brooklyn. The subject property is a 75×100 corner lot, with 30,000 buildable SF. The property has month to month leases and prime for future development. The property is in the heart of Sunset Park, just a few blocks from a major subway line. The borrower needed financing for a TOE closing. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Broadway Triangle Land – Bridge Loan

    Broadway Triangle Land – Bridge Loan

    $1,350,000

    Bridge Loan

    July 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,350,000 bridge loan secured by a parcel of land, with improvements, in the Broadway Triangle neighborhood of Brooklyn. The subject property is a 5,000 SF lot with a total buildable of 20,000 SF. The borrower needed capital for other business endeavors. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Prospect Heights Multifamily – Property Acquisition

    Prospect Heights Multifamily – Property Acquisition

    $1,575,000

    Commercial Property Acquisition

    July 2017

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    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.
  • Flatbush Land & Retail – Acquisition Loan

    Flatbush Land & Retail – Acquisition Loan

    $1,400,000

    Bridge Loan

    July 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,400,000 bridge loan secured by a commercial building in the East Flatbush neighborhood of Brooklyn and a parcel of land in the Flatbush neighborhood of Brooklyn. The commercial property is a 6,000 SF, two-story, vacant building surrounded by national tenants. The parcel of land is a 12,000 SF lot with roughly 36,000 buildable SF, on the same block as the 2 and 5 trains. The borrower needed capital to purchase the commercial property while using the parcel of land as additional collateral. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Manhattan Multi-Family & Bronx Office Building – Acquisition Loan

    Manhattan Multi-Family & Bronx Office Building – Acquisition Loan

    $3,000,000

    Bridge Loan

    June 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $3,000,000 bridge loan secured by a multifamily property in the Upper West Side neighborhood of Manhattan and an office building in the Throgs Neck neighborhood of the Bronx. The properties total 12,000 SF and are both on well trafficked avenues. The borrower needed capital to acquire the Bronx office building while including the UWS multifamily as additional collateral. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Central Harlem SRO Conversion – Bridge Loan

    Central Harlem SRO Conversion – Bridge Loan

    $1,500,000

    Bridge Loan

    June 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,500,000 bridge loan secured by a vacant SRO in the Central Harlem neighborhood of Manhattan. The subject property is a 5,200 SF, 5-story, brick building. It is located just a few blocks from two major subway lines and a block from Central Park. The borrower needed capital to finance the gut renovation of the SRO to multifamily conversion. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Mott Haven Land – Acquisition Loan

    Mott Haven Land – Acquisition Loan

    Bridge Loan

    May 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of an acquisition loan secured by a parcel of land in the Mott Haven neighborhood of the Bronx. The subject property is a 40×100 lot with 14,000 SF of buildable square feet. The subject land is in the heart of Mott Haven’s ongoing development craze, just a few blocks away from the subway.  The borrower had a TOE closing and needed capital to acquire the site. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • East Flatbush Multifamily – Acquisition Loan

    East Flatbush Multifamily – Acquisition Loan

    $1,800,000

    Bridge Loan

    May 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,800,000 bridge loan secured by a multifamily property in the East Flatbush neighborhood of Brooklyn. The subject property is a 20,000 SF, 4-story building, with 19 apartments. The borrower needed capital to purchase the subject property. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Bed-Stuy Retail – Bridge Loan

    Bed-Stuy Retail – Bridge Loan

    $1,200,000

    Bridge Loan

    May 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,200,000 bridge loan secured by a retail property in the Bedford Stuyvesant  neighborhood of Brooklyn. The subject property is a 2-story retail building with 150 feet of wraparound frontage. The property is 7,500 SF and has 15,000 SF of development rights, just two blocks from the G train. The borrower needed capital to pay off violations on the building and for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Park Slope Condo Conversion – Property Acquisition

    Park Slope Condo Conversion – Property Acquisition

    $2,700,000

    Property Acquisition

    April 2017

     

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    Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a 3-family property in the Park Slope neighborhood of Brooklyn. 585 10th Street is a 3-story brick building, that is 3,300 SF. The property, delivered vacant, will be redeveloped into luxury condominiums for resale. This is yet another example of our aggressive appetite in acquiring value add and unique commercial properties throughout NYC.

  • Park Slope Mixed-Use – Bridge Loan

    Park Slope Mixed-Use – Bridge Loan

    $1,100,000

    Bridge Loan

    April 2017

    5th

    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,100,000 bridge loan secured by a mixed-use property in the Park Slope neighborhood of Brooklyn. The subject property is a  4-story, brick building that contains 3 apartments and 1 store. The property is on the corner and roughly 5,000 SF. The property is in the heart of Park Slope, on one of the busiest retail streets, just blocks from the subway. The borrower needed capital to finish renovations on the property. 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

    $4,250,000

    Bridge Loan

    April 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $4,250,000 bridge loan secured by two mixed-use properties in the Theater District of Manhattan. Both properties are four-story brick buildings,  which contain 2 stores and 11 apartments across 9,000 SF. The borrower needed capital to pay off a maturing loan and did not have the luxury of time to provide numerous documents and due diligence items that were being requested by competing lenders. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Queens Retail – Bridge Loan

    Queens Retail – Bridge Loan

    $1,000,000

    Bridge Loan

    March 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,000,000 bridge loan secured by a retail property in the Far Rockaway neighborhood of Queens. The subject property is a single story retail building on an irregularly shaped corner lot. The building is 7,000 SF and contains 7 retail spaces. The borrower needed capital to fix certificate of occupancy issues and pay off violations on the building. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Brooklyn: Mixed-Use, Live-Work, Garage – Bridge Loans

    Brooklyn: Mixed-Use, Live-Work, Garage – Bridge Loans

    $2,615,000

    Bridge Loan

    March 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of three unrelated bridge loans last week; a garage in East Flatbush, a live-work building in Prospect Lefferts Gardens, and a mixed-use building in Bed-Stuy for a total origination a $2,615,000 in debt. The two properties are 9,000 SF and the garage is a 5,000 SF lot. The borrowers needed capital to refinance and for other business purposes. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • East Williamsburg Multifamily – Debt Acquisition

    East Williamsburg Multifamily – Debt Acquisition

    Non-Performing Note Purchase

    March 2017

    623m

    Hirshmark Capital, through an affiliate entity, is proud to announce the purchase of a non-performing loan, secured by a 5-story brick building in the East Williamsburg neighborhood of Brooklyn. The subject property contains 22 residential units spread over roughly 20,000 SF. The property is situated just one block from a major subway line. The seller, a local lending institution, demanded a quick closing. 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.

  • Manhattan & Brooklyn Mixed-Use/Multi-Family – Bridge Loan

    Manhattan & Brooklyn Mixed-Use/Multi-Family – Bridge Loan

    $6,400,000

    Bridge Loan

    February 2017
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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $6,400,000 bridge loan secured by five properties throughout Manhattan and Brooklyn. The subject properties are in East Harlem, Williamsburg, and Bushwick, and contain 38 residential units and 1 commercial unit spread across a total of 31,000 SF.  The property owner, a repeat borrower, needed capital to execute on a time sensitive purchase of one property. The borrower was able to use his existing portfolio’s equity in order to purchase the property with no cash out of pocket. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.
  • Broadway Triangle Retail – Bridge Loan

    Broadway Triangle Retail – Bridge Loan

    $1,550,000

    Bridge Loan

    February 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,550,000 bridge loan secured by a two-story retail building in the Broadway Triangle neighborhood of Brooklyn. The subject property is a roughly 5,900 SF of vacant retail space with 170 feet of wraparound frontage. The property sits on a corner of a major intersection where Williamsburg, Bed-Stuy, and Bushwick all meet and is just two blocks from a major subway station. The borrower needed capital to payoff the maturing loan and to renovate the subject property. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Sheepshead Bay Land – Acquisition Loan

    Sheepshead Bay Land – Acquisition Loan

    $6,060,000

    Bridge Loan

    February 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $6,060,000 acquisition loan secured by a development site in the Sheepshead Bay neighborhood of Brooklyn. The loan is collateralized by three parcels, totaling 80,000 buildable SF and 350 feet of wraparound frontage. The borrower needed capital to acquire the development site with a TOE closing. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Bed-Stuy SRO & Bushwick Mixed-Use – Bridge Loans

    Bed-Stuy SRO & Bushwick Mixed-Use – Bridge Loans

    $1,350,000

    Bridge Loan

    January 2017

    22517

    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of two unrelated bridge loans this week; an SRO in Bedford-Stuyvesant and a mixed-use building in Bushwick for a total origination of $1,350,000 in debt. The properties are 7,600 SF in total and both well located. The borrowers needed capital in order to renovate their buildings, as well as for other business purposes. Hirshmark Capital was able to get comfortable with a myriad of issues, including a potential 7A administrator claim, property accessibility issues, significant amounts of non-paying tenants, numerous open violations, as well as other title issues, and get to the finish line in a timely, cost-sensitive manner. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.

  • Bed-Stuy Industrial – Bridge Loan

    Bed-Stuy Industrial – Bridge Loan

    $1,000,000

    Bridge Loan

    January 2017

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    Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $1,000,000 bridge loan secured by an industrial building in the Bedford Stuyvesant neighborhood of Brooklyn. The subject property is a 20,000 SF, 4-story brick building. The property is surrounded by other industrial/commercial warehouses and close to the Brooklyn Navy Yard. The borrower needed capital to quickly fund a separate real estate purchase. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.