Crown Heights 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 $1,300,000 bridge loan secured by a multifamily building in the Crown Heights neighborhood of Brooklyn. The subject property is roughly 18,000 SF with 16 apartments, all of which are stabilized. The borrower needed capital to acquire the subject property. This is yet another example of our aggressive appetite in providing short term bridge financing in a time sensitive manner.