Hirshmark Capital buys $5.8M note secured by 10-unit in Greenpoint

Hirshmark Capital bought a note with an original principal of $5.8 million from Patriot Bank secured by InvestMates Real Estate & Development’s 10-unit rental (D1) at 153 Green Street in Greenpoint, Brooklyn.
The deal closed on September 27, 2021 and was recorded on October 14, 2021.
The property has 13,435 square feet of built space and 1,550 square feet of additional air rights for a total buildable of 15,000 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. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
(321541505) Plans for a 10-unit, 13,435 square-foot R-2 were filed on March 13, 2017 and were permitted on August 29, 2019.
There was a condominium project filed with the address 153 Green Street and the name 153 Green Street Condominium (the) on February 10, 2020. The principals of the sponsor, 153 Green Llc, was Jakov Telyas. link

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