Hirshmark Capital sells $1.5M note to TLOA Mortgage secured by Bushwick property

Hirshmark Capital sold a $1.5 million note to TLOA Mortgage secured by a Bushwick property owned by Gilberto Rodriguez Jr.

The secured parcel is the tax class primarily four family with store or office (S4) and containing 4 residential units at 1427 DeKalb Avenue in Bushwick. The deal closed on October 21, 2020 and was recorded on November 20, 2020.
The property contains a total of 5,274 square feet of built space. The property has 5,274 square feet of available development rights.

The Department of Buildings issued a full vacate order in 2016 citing a fire in a portion of the building. The vacate remains in place, according to DOB records.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $304,810.

There has been one demolition project filed for the parcels over the past five years. The demolition included 3 residential units.

Direct link to Acris document. link