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Brokerage
Posted: March 14, 2023
Short Term Capital buys $3.9 million non-performing loan - 16,907 s/f
Hempstead, NY Short Term Capital, a New York-based family office, has purchased a $3.9 million non-performing note from the lender of a commercial property owner.
The 16,907 s/f property, located at 999 Hempstead Tpke., is a one-story commercial building built in 1951.
“Although our primary purpose is to originate loans in the greater New York area, we purchase non-performing mortgages with the intent to restructure giving the borrower a lifeline,” said Short Term Capital’s finance director Mary Guarino. “For us, it’s a way to back into lending and increase our portfolio.”
Short Term Capital, with offices in Carle Place and L.I., in addition to originating new loans also buys non-performing mortgages.
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