Bed-Stuy Rent Stabilized Multifamily – Bridge Loan
Despite the new rent regulations, Hirshmark is actively pursuing lending opportunities on rent stabilized buildings. Hirshmark Capital, through an affiliate entity, is proud to announce the funding of a $2,000,000 bridge loan secured by two buildings in the Bed-Stuy neighborhood of Brooklyn. The subject properties total roughly 10,000 SF with 11 units. The borrower needed capital to refinance existing loans. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.