News:
Brokerage
Posted: November 7, 2011
Brick Realty Capital arranges two loans totaling $3.4 million; Also acquires its 21st Ânon-performing loan of the year
According to Eric Roth, a managing partner of Brick Realty Capital LLC, the private investment group, through affiliate entities, funded a total of $3.4 million. The deals include:
* A second mortgage of $3 million to a private investor in order to assist in the acquisition of 150-24 Northern Blvd., a 55,000 s/f retail shopping mall located in Flushing.
* Acquisition financing of $400,000 to a local investor for the purchase of a six-unit apartment building in the East Williamsburg section of Brooklyn.
Brick also purchased its 21st non-performing mortgage and note of year. The collateral for the note and mortgage consisted of a 16-unit multifamily apartment building that is located in the Flatbush section of Brooklyn.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
