Mortgage Note Sales for Brooklyn, Westchester, Queens Properties

NEW YORK—The mortgage notes for income-producing property portfolios in Brooklyn and Westchester, as well a note collateralized by an office/warehouse/light manufacturing building in Ozone Park, Queens, are being offered for sale through Eastern Consolidated.

Eastern Consolidated Senior Director Marcia Yawitz with Financial Analyst Paul Nigido are spearheading the marketing initiative for the sale of the defaulted senior secured mortgage interests on the properties, all of which are approaching foreclosure.

The Brooklyn portfolio is comprised of 22 apartments and two stores in four pre-war, three-story, walk-up apartment buildings located at 203 Hull Street, 415 Montauk Avenue, 715 Riverdale Avenue and 800 Rutland Road. All properties are close to train lines with the exception of Rutland Road, which is serviced by bus lines along Remsen and Utica Avenues.

The Westchester portfolio is comprised of 49 apartments and three stores in seven walk-up apartment buildings. One is situated at 59 Mt. Vernon Avenue, Mt. Vernon, and the remainder are located in Yonkers at 42 Randolph Street, 58-60 Morris Street, 165 Willow Street, 195 Woodworth Avenue, 484 Walnut Avenue and 423 Warburton Avenue.

The Queens offering, 105-01 101st Avenue in Ozone Park, is a 10,576-sq.-ft., one –and-a-half-story office/warehouse/factory in a mixed-use zoning area. The property includes a drive-in bay with parking for five cars and approximately 4,250 sq. ft. currently leased to a nonprofit. The remaining 6,230 sq. ft. are vacant.

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