Astoria Multifamily – Construction Completion/Bridge Loan
Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $3,500,000 bridge loan secured by a multifamily building in the Astoria neighborhood of Queens. The building, which is 95% complete, will be 14,000 SF with 20 residential units. The subject property is just a few block from the N & W trains, which lends a quick commute to Manhattan. The borrower needed capital to refinance an existing loan and cash out enough to complete the project. This is yet another example of our aggressive appetite in providing short-term bridge financing in a time sensitive manner.