New York CityNew York City

Financing For Purchase of Non-Performing Mortgage and Note

Acquisition financing of $1,700,000,00 was provided for the purchase of  a non-performing mortgage and note. The collateral consisted of a blanket mortgage that encumbers both a 2 story commercial building as well as a vacant lot prime for development. Both parcels are located within the Bensonhurst section of Brooklyn.  The term of the loan is for 2 years and was funded within 10 days of application.  Brick Capital Group LLC arranged the financing for this transaction.