Edery of Paradigm Commercial closes four loans totaling $53.4 million

August 16, 2016 - Financial Digest
Michael Edery, <a class=Paradigm Commercial Real Estate LLC" width="150" height="150" /> Michael Edery, Paradigm Commercial Real Estate LLC

Manhattan, NY Paradigm Commercial Real Estate LLC has closed four loans totaling $53.4 million, encompassing four properties, located throughout Manhattan.

• $22 million was secured by five, five-story, and one, six-story, contiguous buildings, located in the Clinton area of Manhattan and containing 75 residential units.

• $17.8 million was secured by five contiguous buildings located on East 81st St. and the river, containing a total of 100 units $8.3 million was secured by a six-story elevator apartment building located on Riverside Dr. in the Hamilton Heights section.

• $5.3 million was secured by a five story walk-up building, containing 16 apartments and two stores, and was located on First Ave. on the Upper East Side.

These loans, representing 75% of value, feature rates of 3.125% with three years of interest only. Michael Edery arranged these loans on behalf the borrower, CT based ACP Assets, with local lending institutions.

Comments

Add Comment


More from the New York Real Estate Journal