Queens Retail/Re-Development Site – Debt Acquisition
Hirshmark Capital is proud to announce the purchase of a performing loan accruing at a conventional bank interest rate with a current unpaid balance of $2.8MM. The seller, who had sold the property a year ago and took back owner financing, wanted to cash out and move on to other business endeavors. The loan is secured by a 16,400 SF one-story commercial building located within the heart of a busy retail corridor on Roosevelt Ave, and has roughly 21,000 sf of buildable air rights. It is situated two blocks from a major subway and on the same block as many national retailers. Hirshmark Capital’s patient long term capital, overall comfort in the retail centric asset class, as well as performing loans, led to a seamless opportunity for the seller to take advantage of.