New York, NY (January 14, 2010) — NCB, FSB, a leading lender to cooperative housing throughout the Tri-State area, and the federally-insured depository subsidiary of NCB Financial Group, originated over $41 million in new loans during December for 21 new properties. The financing arranged during the month included $36 million in mortgages and $5.6 million in lines of credit. "Last year ended on a strong note, with over twenty local properties arranging financing in December," said Mr. Howe. "We believe this trend will continue in the new year, with more cooperative boards using financing to address a variety of building needs. From refinancing existing debt and undertaking capital improvement projects, we are proud to be a consistent source of financing for these communities in today's challenging lending environment.
"Mr. Howe arranged $9.2 million in financing during December including a $3 million first mortgage for a 72-unit co-op located at 2187 Holland Avenue in the Bronx; a $1.8 million first mortgage and a $250,000 line of credit for a 44-unit co-op located at 819 Broadway in Woodsburgh, NY; a $1.8 million first mortgage and a $250,000 line of credit for a 54-unit co-op located at 55 Ehrbar Avenue in Mt. Vernon, NY; a $1.5 million first mortgage and a $100,000 line of credit for Hillpark Plaza Inc., a 42-unit co-op located at 15 Hillpark Avenue in Great Neck, NY.
NCB Senior Vice President Mindy Goldstein arranged over $18.6 million in new financing during December including a $5.5 million first mortgage and a $500,000 line of credit for Edgemont Apartments Corp., a 140-unit co-op located at 370-372 Central Park Avenue in Scarsdale, NY; a $3.9 million first mortgage and a $500,000 line of credit for a 143-unit co-op located at 80 Winthrop Street in Brooklyn, NY; a $2.8 million first mortgage and a $500,000 line of credit for a 47-unit co-op located at 130 West 86th Street in Manhattan and a $1.3 million first mortgage for Crestwood Apartments Inc., a 36-unit co-op located at One Meadow Drive in Woodsburgh, NY.
NCB Senior Vice President Sheldon Gartenstein the largest loan in December for Clifton House Owners Corp., with a $5.6 million first mortgage and a $1 million line of credit for the 142-unit co-op located at 127 West 79th Street in Manhattan; a $2 million first mortgage and a $500,000 line of credit for a 59-unit co-op located at 854 West 181st Street in Manhattan; a $1.8 million first mortgage and a $500,000 line of credit for an 82-unit co-op located at 71-36 110th Street in Forest Hills, NY; a $750,000 first mortgage and a $250,000 line of credit for a 37-unit co-op located at 120 West 70th Street in Manhattan; a $500,000 line of credit for Hanover River House, a 29-unit co-op located at 335 Greenwich Street in Manhattan; a $425,000 first mortgage and a $100,000 line of credit for a 19-unit co-op located at 32 Downing Street in Manhattan; and a $300,000 first mortgage for a 12-unit co-op located at 130-132 Prospect Place in Brooklyn, NY.