DEAL OF THE DAY: HFF Arranges $4M Loan for Catskill Condos
- Feb 27, 2008
By Anuradha Kher, Online News EditorCatskill, N.Y.–The New Jersey office of HFF (Holliday Fenoglio Fowler L.P.), a commercial real estate and capital markets services provider, has arranged $4 million in financing for Catskill Creek Condominiums, a 24-unit condo community in Catskill, N.Y., about 2.5 hours north of New York City. On behalf of Tower Management Service L.P., a multifamily property management company, HFF Senior Managing Director Tom Didio and Associate Director Michael Klein placed the 24-month, adjustable-rate loan with Webster Bank. Catskill Creek Condominiums is located at 1 Marina Dr. in Catskill approximately 30 miles south of Albany, via Interstate 87. The gated community has three- and four-bedroom units that range in size from 1,500 sq. ft. to 2,598 sq. ft. and feature two and a half baths, one- or two-car garages, central air conditioning, a private balcony off the master bedroom, and a rear patio. Community amenities include a swimming pool and dock spaces at the confluence of Catskill Creek and the Hudson River. Tower Management also has approval for 10 additional townhomes, which the company has engaged Weichert Realtors to market and sell on an exclusive basis.