TODAY’S DEALS: NCB Arranges Over $57M in New Loan Originations, and Other Transactions
- Apr 15, 2009
By Anuradha Kher, Online News EditorNew York–NCB has arranged over $57 million in new loan originations during the month of March for 24 New York area properties. The financings included $41.8 million in mortgages and $15.3 million in lines of credit. Some of the loans were:$11 million first mortgage for Midland Avenue Owners Corp. a 404-unit co-op located at 1296/1300/1304 Midland Avenue in Yonkers, N.Y. $4.5 million first mortgage and a $1 million line of credit for a 113-unit co-op located at 120 Central Park South in Manhattan$3.1 million first mortgage and a $900,000 line of credit for a 78-unit co-op located at 2-4 Windsor Terrace in White Plains, N.Y$5 million first mortgage and a $500,000 line of credit for Wyndham House Tenants Corp., (pictured) a 145-unit co-op located at 200 Atlantic Ave. in Lynbrook, N.Y.$4.5 million first mortgage and a $500,000 line of credit for a 133-unit co-op located at 315 East 65th St. in Manhattan$2.6 million first mortgage and a $350,000 line of credit for a 72-unit co-op located at 30 East Hartsdale Ave. in Hartsdale, N.Y.$1.5 million line of credit for Lafayette Gardens Tenants Corp., a 192-unit co-op located at 330-340 Haven Avenue in Manhattan Arbor Closes $16,500,000 Fannie Mae DUS Loan Chicago–Arbor Commercial Funding LLC recently closed a $16.5 million loan under the Fannie Mae DUS product line for the 591-unit complex known as Harper Square Coop in Chicago. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.17 percent.