Non-Performing Loan Sale – Bushwick

1502 Dekalb Avenue

Bushwick

Original Loan Amount $1M
Unpaid Balance $963,594.84
Current Interest Rate 3.75
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Loan/Note Sale 1502 Dekalb Avenue, Bushwick
Tim Thompson
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Overview

The non-performing mortgage loan is secured by 1502 DeKalb Avenue. 1502 DeKalb Avenue is a 6-unit, rent stabilized, multifamily property located in the most prime section of Bushwick, Brooklyn. Bushwick is one of Brooklyn’s most vibrant neighborhoods known for the explosion of bars, restaurants, coffee shops, music venues and art studios that have opened in the neighborhood. The property is located 1 1⁄2 blocks from the L train entrance at the corner of DeKalb Avenue and Wyckoff Avenue, which provides access to Manhattan and Williamsburg in less than 20 minutes. The property is also ideally located within approximately 3 blocks from Maria Hernandez Park and 1 1⁄2 blocks from Wyckoff Heights Hospital.

Attractions

Maria Hernandez Park
Proximity to the M and L trains
Excellent Retail Area

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