Non Performing Loans, Investment Properties Wanted
WRA Properties, Inc., as principals, is actively seeking to purchase multi-family apartment houses, shopping centers, taxpayers, strip retail centers nationally located, triple or double net leased single tenant property, and pools or individual non-performing mortgage loans on income producing properties and residential (1-4 family houses), cooperative underlying mortgages, cooperative end loans and cooperative sponsor unsold share apartment packages.
We are interested in increasing our holdings in New York City, lower New York State and Fairfield County, Connecticut and northern New Jersey. We are seeking pools or individual assets with a face value of $500,000 to $40,000,000. Additionally, we will consider individual assets with a price as low as $100,000. We will seriously consider "distressed" properties and assets at any price.
As principals, we have been involved in several mortgage and investment property purchases. Our recent activity includes:
- Package of 11 buildings in the Bronx and Manhattan with a $4.3 million rent roll valued at approximately $17 million.
- 60,000 sq. ft. shopping center in Howard Beach Queens, NY with a value in excess of $6.5 million.
- 14,000 sq. ft. net lease single tenant major drug store in Pennsylvania valued at approximately $2.7 million.
- 60 family elevator apartment house with two stores near Yankee Stadium in the Bronx valued at approximately $2 million
- Non-performing loan package collateralized by (1-4 family homes) predominantly
located in the New York City Metropolitan area, from a major New York Bank
with a face value of $30 million.
- East 34th Street, New York, New York Purchase of defaulted 1st Mortgage
on Condominium Garage in an approximate amount of $1.8 million.
- Teaneck, New Jersey Purchase of a three-story brick elevator office building and one-story brick office/retail building with a rent roll of $396,000 for an approximate price of $1,100,000.
- Morristown, New Jersey Purchase of 54,584 sq. ft. retail center with a rent roll of $905,000 for an
approximate price of $4,950,000.
- Phoenix, Arizona Purchase of 116-unit multi-family dwelling with a rent roll of $500,000 for an approximate price of $2,300,000.
- Commercial Condominium with 6 stores and an underground parking garage in the East 60's between Second and Third Avenues in Manhattan.
- New Haven, Connecticut Purchase of 1st mortgages on four commercial
and residential properties in bankruptcy in an approximate amount of $2.6
- Loan and Equity Kicker on an 80 family garden apartment complex in Hartford, CT. valued at approximately $2 million.
- Subperforming loan on an office building on 7th Avenue in mid town Manhattan valued at approximately $5 million.
- Non-performing loan package collateralized by cooperative apartment
end loans predominantly located in the New York City and Northern New Jersey
area from a major New York Bank with a face value of approximately $4.5
- 19 End Loans and 9 cooperative apartments in Bergen County, NJ with an approximate face value of $1,200,000.
- Riverside Drive, New York, New York Purchase of Cooperative Underlying
1st Mortgage in an approximate amount of $2 million.
- Flushing, New York Purchase of Cooperative sponsor bulk share loan
in an approximate amount of $1.5 million.
- Yonkers, Westchester County, New York - The purchase of 61 sponsor cooperative unsold share apartments with an annual positive cash flow of over $140,000 and a vacant value of over $2,500,00.
- West 16th Street, New York, New York - The purchase of a 5 story partially renovated 20 family apartment house for $350,000.
- East 75th Street, New York, New York - The purchase of a 75% interest in a package of prime co-op sponsor units. The package has a substantial cash flow and value of over $1,000,000.
- Madison Avenue and East 60s, New York, New York - The placement of a purchase money equity participation cooperative unsold share loan in the sum of $700,000.
- East 57th Street, New York, New York - The sale of a ground floor retail condominium between Second and Third Avenues for approximately $500,000.
- 25 family apartment house in the Bronx valued at approximately $500,000.
- 8 family apartment house on Perry Street in the West Village section of Manhattan valued at approximately $650,000.
The principals of WRA Properties, Inc., have combined experience in
the real estate business in excess of 25 years and have been involved in
the purchase and sale of over 500 million dollars of mortgages, apartment
buildings, taxpayers, and other Real Estate assets.
For more information on WRA Properties, Inc.'s services, call
Frank T. Chiarello, President, at (718) 224-9500 Ext. 130 or contact
Copyright 2001 WRA Properties, Inc. All rights reserved.