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Purchase of Non Performing Mortgage – Inwood Apartment Building

Brick Realty Capital LLC, through an affiliate entity, has purchased another non-performing Mortgage and Note. Situated on a 75 X 100 corner lot and located in the Inwood section of Manhattan, the collateral is comprised of a 5 story walk-up apartment building that contains 38 residential apartments. According to Eric C. Roth, a Managing Partner, Brick has been a very active purchaser of non-performing debt. In fact, just during the first half of 2011, Brick has closed or has contracted to purchase non-performing mortgages and notes that encumber 15 residential and/or commercial buildings – all of which are located in the NYC metropolitan area.