Non-Performing Loan Sale - Bed-Stuy/Ocean Hill

The non-performing mortgage loan is secured by 190 Rockaway Avenue. 190 Rockaway Avenue is an 5,600 SF 8-unit rent stabilized, multifamily property with four stories located in Ocean Hill, Brooklyn. The property is located within 1 1⁄2 blocks from the Rockaway Avenue C train station and in close proximity to Broadway Junction which provides access to the A, C, J, Z and L trains as well as the LIRR. The property owner has provided a rent roll of approximately $113,00/year. The units are rent stabilized with the average rent at approximately $1,178/month. The building is in the protected 2B tax class and the taxes are $9,000/year.