NCB originates $54 million for 23 New York housing co-ops

January 22, 2019 - Financial Digest
Mindy Goldstein, NCB

 

Edward Howe, III, NCB

 

New York, NY According to Edward Howe III, managing director of National Cooperative Bank (NCB), the bank has originated over $54 million in new loans for 23 N.Y. area housing cooperatives.  

Mindy Goldstein, senior VP, originated $26.8 million, including the largest loan of the month, a $5.5 million first mortgage and $500,000 line of credit for Tudor Woods, Inc., a 148-unit co-op at 76-98 DeHaven Dr., Yonkers. Other financings included: A $3.6 million first mortgage and $400,000 line of credit for Saxony Hall Owners Corp., an 85-unit co-op at 87-15 165th St., Jamaica; a $2.5 million first mortgage and $500,000 line of credit for Wakefield Cooperative Corp., a 199-unit co-op at 745/740 East 231st and 745/749 East 231st St., Bronx; a $2 million first mortgage and $500,000 line of credit for Charlton Tenants Corp., a 40-unit co-op at 210 Sixth Ave., Manhattan; a $1.5 million first mortgage and $200,000 line of credit for Work of Art Loft Corp., a ten-unit co-op at 242-244 Lafayette St., Manhattan; a $600,000 first mortgage and $200,000 line of credit for a 12-unit co-op at 71 West 83rd St., Manhattan, among others.

Harley Seligman, senior vice president, originated $14.1 million for the month of December including: A $4.8 million first mortgage and a $500,000 line of credit for 6485 and 6495 Broadway Apartments, Inc., a 127-unit co-op at 6485-6495 Broadway in Bronx; a $2.1 million first mortgage and a $500,000 line of credit for a 66-unit co-op at 285 East 35th Street in Brooklyn; a $1.5 million second mortgage and a $750,000 line of credit for a 25-unit co-op at 601 West End Ave. in Manhattan; a $1 million first mortgage and a $100,000 line of credit for a ten unit co-op at 260 West 10th St. in Manhattan; an $800,000 term loan for Vestry Place Condominium, a 32-unit condominium at 181 Hudson St. in Manhattan; a $590,000 first mortgage for 80 Columbus Owners Corp., a 13-unit co-op at 121-123 West 80th St. in Manhattan; a $500,000 first mortgage and a $200,000 line of credit for Underhill Gardens Apartment Corp., a 24-unit co-op at 295 St. Marks Ave. in Brooklyn; a $500,000 first mortgage for 137 20th Street Jackson Heights, Inc., a ten-unit co-op at 35-20 77th St. in Jackson Heights; and a $300,000 first mortgage for a seven unit co-op at 231 Maujer St., Brooklyn, NY.

Edward Howe III, managing director of NCB’s New York office, reported $13.5 million in originations during the month, including: A $4.7 million first mortgage and a $1 million line of credit for 3515 Owners Corp., a 77-unit co-op at 3515 Henry Hudson Parkway, Bronx; a $3.8 million first mortgage and a $500,000 line of credit for an 87-unit co-op at 510-530 Dubois Ave. in Valley Stream; a $1.5 million line of credit for a 59-unit co-op at 125 West 96th St. in Manhattan; a $1.2 million third mortgage for Sheepshead Terrace Cooperative Apt., Inc., a 168-unit co-op at 2413-83 East 29th Street in Brooklyn; a $525,000 line of credit for Garden Hamilton, Inc., an 83-unit co-op at 101 Second St. in Garden City; and a $350,000 line of credit for an 11-unit co-op at 343 West 12th St. in Manhattan.

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