Brick Capital funds four first mortgages totaling $18.985 million

July 18, 2017 - Financial Digest

New York, NY Brick Capital Partners LLC, through an affiliate entity, funded four first mortgages totaling $18.985 million. The deals include:

• A $1,585 million first mortgage for a private real estate group. Located in downtown Brooklyn, the collateral is comprised of a two story, mixed-use building that is slated for residential development. Marc Hershberg of Friedman-Roth Realty Services LLC arragned the financing on behalf of the borrower.

• A $2.4 million first mortgage for a private real estate owner. Located in the Richmond Hills, Queens, the collateral is comprised of one-story commercial building that is leased to the Dept. of Education.The loan proceeds were used to consolidate debt on the borrower’s several businesses.

• A $10 million first mortgage for a private real estate investor. Located on Manhattan’s Lower East Side, the collateral is comprised of a nine-story hotel that is net leased to a seasoned operator. The interest only loan is for a two-year term and was closed within two weeks of application.

• A $5 million first mortgage for a private real estate investor. Located in Times Sq., the collateral is comprised of a four-story commercial building. The interest-only loan is for a three-year term and was closed within two weeks of application.

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