Toorak Capital buys notes on two Brooklyn properties valued at $5.75M

Toorak Capital Partners bought notes secured by two properties for a total of $5.75 million in two unrelated transactions in Brooklyn.

In the first, through the entity as borrower signed a loan agreement with lender Toorak Capital Partners, LLC bought the note from Bullpath Capital Corp. with an original principal value of $3.75 million for 1 parcel, including the tax class multifamily, five to six families (C2) and containing 6 residential units at 373 Prospect Place in Prospect Heights. The deal closed on February 22, 2021 and was recorded on March 26, 2021. The property is owned by Yaakov Peretz.
The property contains a total of 8,585 square feet of built space.

The last time the property sold was April 11, 2019 for $2,620,000.
Direct link to Acris document. link

In the second transaction, Toorak bought the note from Broadview Capital LLC that had an original principal of $2 million secured by 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 7 residential units at 139 Tompkins Avenue in Bedford-Stuyvesant. The deal closed on March 3, 2021 and was recorded on March 26, 2021. The property is owned by Benjamin Mehrel.
The property contains a total of 5,787 square feet of built space. The property has 5,787 square feet of available development rights.

This is an assignment of a new loan. The last time the property sold was February 22, 2021 for $2,000,000.
Direct link to Acris document. link