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Purchase of Non-Performing Mortgage – Ridgewood Apartment Building

Brick Realty Capital LLC, through an affiliate entity, has added another non-performing mortgage and note to their loan portfolio,   The collateral is comprised of a 6 unit walk-up apartment building located in the Ridgewood section of Queens.  According to Eric C. Roth, a Managing Partner, the note was purchased from a local savings bank and was closed within two days of the accepted offer.  Phil Ragone, of Brick Capital Group, and Nadeem Haque, of Friedman-Roth Realty Services, were the brokers who arranged the transaction.