Non-Performing Loan Sale – Crown Heights

Crown Heights

Current Payoff as of 12/18/20 $1,947,816.42
UPB $1,500,000
Ordinary Interest Rate 12%
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Loan/Note Sale , Crown Heights
Ben Robbins
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Details

Collateral Details:
Stories 5
Total Units 10
Building Dimensions 20 ft x 70 ft
Lot Size 20 ft x 150.58 ft
Gross SF 7,000

Overview

TerraCRG is pleased to exclusively offer for sale, a first position non-performing mortgage loan secured by a 10-unit multifamily property located in the prime section of Crown Heights, Brooklyn. The building is in a protected 2B tax class and the taxes are $7,638 per year as of FY ’21.

Attractions

Crown Heights is situated in the center of Brooklyn surrounded by classic architecture and new development, drawing tons of new residents to the area. There are four historic districts within this rapidly changing neighborhood, filled with low-rise brownstones and three major commercial corridors at Franklin Avenue, Nostrand Avenue, and Kingston Avenue. Over the last few years, Franklin Avenue has experienced a tremendous movement of new, trendy retailers including a cider distillery and bar, great restaurants, shops, and more. The neighborhood is serviced by the 2, 3, 4, 5, and S trains, several bus lines including select bus services, and Eastern Parkway.

Brooklyn Botanical Garden
Crabby Shack
Friends and Lovers
Gladys Brooklyn Children's Museum

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