The collateral backing these notes includes a mix of multifamily and retail assets located near significant demand drivers such as Yankee Stadium and Prospect Park. Because the loans exist in varying states of default and foreclosure, the firm is offering bidders the flexibility to acquire individual notes, customized packages, or the entire portfolio. Investors may pursue multiple resolution strategies, ranging from negotiated payoffs and loan workouts to taking ownership of the underlying real estate.
In section Releases
Hilco Real Estate Lists $14.3 Million New York Property Debt Portfolio
With an unpaid principal balance exceeding $14.3 million, a collection of 12 nonperforming bank notes tied to New York City real estate has hit the market. Hilco Real Estate is managing the sale, offering investors a stake in properties spanning Brooklyn, the Bronx, Upper Manhattan, and Yonkers.
Christian Koulichkov, senior vice president at Hilco Real Estate, noted that the portfolio provides access to established submarkets characterized by dense populations and high barriers to new development. The sale process requires interested parties to submit offers by 5:00 p.m. ET on August 13. Interested bidders should contact the firm directly to access due diligence materials and confirm specific acquisition procedures.
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