NEW YORK, NY - National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the Tri-State area, has originated more than $60 million in new loans during October for 21 New York area properties, according to Edward Howe III, managing director of the NCB New York office,.
Vice president Harley Seligman originated $23.2 million in new financing during October, including the largest loan: a $13.5 million first mortgage and $1 million line of credit for Maple Plaza Housing Development Fund Corporation, a 154-unit co-op at 1911-1929 Madison Ave. in Manhattan. Other financing activity during the month included:
$3.4 million first mortgage for Tara Close Apartments Corp., a 99-unit co-op at 77 Carpenter Ave. in Mount Kisco, NY.
$1 million first mortgage and $800,000 line of credit for Gramatan Court Apartments, Inc., a 27-unit co-op at 23-25 Sagamore Rd. in Bronxville, NY.
$850,000 first mortgage and $250,000 line of credit for Bleecker Street Tenants Corp., an 18-unit co-op at 32 Jones St. aka 277-279 Bleecker St.in Manhattan.
$650,000 first mortgage and $250,000 line of credit for a ten-unit co-op at 530 Canal St. in Manhattan.
$600,000 first mortgage for West Spring Studio Corp., a six-unit co-op at 99 Spring St. in Manhattan.
$300,000 first mortgage and $100,000 line of credit for a ten-unit co-op at 530 1st St. in Brooklyn, NY.
$300,000 first mortgage for a four-unit co-op at 188 Columbia Heights in Brooklyn, NY.
$200,000 line of credit for Hastings House Tenants Corporation, an 87-unit co-op at 765 North Broadway in Hastings on Hudson, NY.
Edward Howe III, managing director of NCB’s New York office, arranged nearly $22 million in loans during the month, including:
$7 million first mortgage and $500,000 line of credit for an 84-unit co-op at 711 Shore Rd. in Long Beach, NY.
$4 million first mortgage and $500,000 line of credit for Linden Hill No. 2 Cooperative Corp., a 384-unit co-op at 142-14/142-20 26th Ave. aka 26-21 Union St. in Flushing, NY.
$4 million first mortgage and $1 million line of credit for Grinnell Housing Development Fund Corporation, an 81-unit co-op at 800 Riverside Dr. in Manhattan.
$2.8 million first mortgage for an 86-unit co-op at 285 Riverside Drive in Manhattan.
$1.8 million first mortgage and $250,000 line of credit for Hampton House Tenants Corp., a 61-unit co-op at 120 Morris Ave. in Rockville Centre, NY.
Senior Vice President Mindy Goldstein arranged $15 million during the month, including:
$4.5 million first mortgage and $750,000 line of credit for Colorado Owners, Inc., a 136-unit co-op at 67-12 Yellowstone Blvd. in Forest Hills, NY.
$4.5 million first mortgage and $500,000 line of credit for Congress Owners, Ltd., a 108-unit co-op at 200-220 Congress St. in Brooklyn, NY.
$1.8 million first mortgage for a 60-unit co-op at 6535 Broadway in Bronx, NY.
$1.4 million first mortgage and $250,000 line of credit for 50-15 Owners Ltd., a 50-unit co-op at 50-15 39th St. in the Sunnyside neighborhood of Queens, NY.
$700,000 first mortgage and $100,000 line of credit for West 71st St Tenants Inc., a 30-unit co-op at 130-132-134 West 71st St. in Manhattan.
$200,000 line of credit for a 26-unit co-op at 60 East 86th Street in Manhattan.
$200,000 first mortgage and $100,000 line of credit for a five-unit co-op at 103 Prospect Park West in Brooklyn, NY.
As a full-service financial institution, NCB provides term loans, lines of credit, commercial and residential mortgages and personal and business banking products to cooperatives nationwide. NCB offers an array of business banking products for cooperatives including cash management, competitive deposit rates and full service payment processing and lockbox.