TODAY’S DEALS: CPC Provides $2.1M Refi Loan to Mixed-Use Rental Building, and Other Transactions

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By Anuradha Kher, Online News Editor New York–The Community Preservation Corp.’s (CPC) Bronx/Manhattan office closed on a $2.1 million Freddie Mac loan to refinance a mixed-use rental building (pictured) located in the Inwood section of Manhattan.The property features two contiguous five-story buildings, located at 79 Sherman Ave. and 152 Dyckman St., containing 38 apartment units, six […]

By Anuradha Kher, Online News Editor New York–The Community Preservation Corp.’s (CPC) Bronx/Manhattan office closed on a $2.1 million Freddie Mac loan to refinance a mixed-use rental building (pictured) located in the Inwood section of Manhattan.The property features two contiguous five-story buildings, located at 79 Sherman Ave. and 152 Dyckman St., containing 38 apartment units, six stores and two professional office apartments. Owner/borrower, Silpar Realty whose principal is John Pavon has owned the property since 1982. Freddie Mac has been a lender on the property since 1987 when it provided a mortgage of $825,000. CPC refinanced this mortgage with a new $1.15 million Freddie Mac loan in 1996. Pavon has made many major capital improvements to the buildings, including upgrades to the residential units and the buildings’ mechanical systems.  Arbor Closes $7,780,000 Fannie Mae DUS MBS Loan for 128-Unit PropertyBridgeport, Conn.–Arbor Commercial Funding recently completed funding of a $7,780,000 loan under the Fannie Mae DUS MBS Loan product line for the 128-unit property known as the Bridgeport Portfolio in Bridgeport, Conn.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.

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