News:
Brokerage
Posted: November 1, 2016
Hirshmark Capital closes $6.75 million in loans
Igor Vaysberg, Hirshmark CapitalBrooklyn, NY Hirshmark Capital LLC, through an affiliate entity, closed these recent transaction totaling $6.75 million:
• A $3.65 million bridge loan secured by three properties in the Prospect Heights, Bedford-Stuyvesant and Crown Heights neighborhoods. The properties feature 28 residential units, totaling 26,000 s/f. The borrower is a real estate owner who needed funds to renovate his properties and pay off violations. Hirshmark’s Igor Vaysberg negotiated this transaction.
•A $2.1 million bridge loan secured by a 6,500 s/f, five-story residential building in the Clinton Hill neighborhood. The borrower needed the funds to refinance an existing loan on the property and for working capital to complete renovations. Hirshmark’s Mikhail Gurevich negotiated this transaction.
• A $1 million bridge loan secured by a two-story commercial building in the Williamsburg area. The borrower is an active real estate investor/owner in the borough and needed a loan to refinance an existing loan on the property. Hirshmark’s Michael Fuller negotiated this transaction.
• A $1 million bridge loan secured by a 7,000 s/f, five-story 10-unit residential building in the Crown Heights neighborhood. The borrower needed to refinance an existing loan on the property and to complete renovations. Hirshmark’s Jake Soodek negotiated this transaction.
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
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,
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
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,
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
