Long Island City Vacant Land – Construction Loan
Hirshmark Capital is proud to announce the funding of a $1,250,000 construction bridge loan secured by a vacant development site, in the Long Island City neighborhood of Queens. The property has 12,500 buildable SF, with plans for an 8-story residential building. The property is situated just a block from major subway lines. The borrower, an active contractor, demanded a quick closing for his business endeavors. Hirshmark Capital worked closely with the borrower and accommodated the time of the essence transaction, closing in one week from execution of the term sheet. This is yet another example of Hirshmark Capital’s aggressive appetite in providing short term bridge financing in a time sensitive manner.