Hirshmark Capital buys $4.95M note secured by John Zaccaro’s Nolita rental

May 7, 2021 7:04 am

Hirshmark Capital through the entity 241 Mulberry Funding LLC bought a note with an original principal of $4.95 million from BankUnited secured by John Zaccaro’s 24-unit rental (C7) at 241 Mulberry Street in Nolita, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 6, 2021.
The property has 11,424 square feet of built space and 3,495 square feet of additional air rights for a total buildable of 14,923 square feet according to PincusCo analysis of city data. The loan price per built square foot is $0 and the price per buildable square foot is $0 per the PincusCo analysis.

Zaccaro recently refinanced a Soho property with a $19.4 million loan, PincusCo reported.
The owners according to the Department of Housing Preservation and Development includes John Zaccaro, head officer and John Zaccaro Jr, officer. The business entity is DLJ Family Limited Partnership.

Direct link to Acris document. link

Share this article