Prospect Heights Land – Bridge Loan
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.