A unit of Brick Realty Capital, New York, has purchased a $2.69 million nonperforming commercial mortgage collateralized by a 30-unit multifamily building on New York’s Upper East Side.
The sale was brokered by Helios Capital. The selling bank and the price paid was not disclosed.
Brick Realty Capital funds short-term, hard money and bridge loans.
Since January Helios has brokered $50 million in NPL sales, according to a statement released by the company.
Earlier this year Brick Realty purchased a nonperforming blanket first mortgage that encumbered five New York City multifamily apartment buildings. Located in East Harlem, those properties contained 97 rental apartments and one retail store.