Maverick buys $21M notes on Morgenstern Capital Bushwick rentals

Maverick Real Estate Partners through the entity Lorimer Myrtle Multifamily LLC bought from OceanFirst Bank notes with a maximum principal of $21.1 million secured by 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 42 residential units at 1381 Myrtle Avenue and 48 Meserole Street in Bushwick. The deal closed on November 15, 2020 and was recorded on February 1, 2021.
The property owner is Morgenstern Capital.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $1,439,500.

Direct link to Acris document. link
Correction: A previous version of this post incorrectly identified the full name of Maverick Real Estate Partners.

Share this article