Sheldrick of Largo secures $16.5 million first mortgage for 98-unit development in Pleasant Valley

April 03, 2018 - Upstate New York
Brian Sheldrick,
Largo

Pleasant Valley, NY Brian Sheldrick, managing director of Largo’s Albany office, secured a $16.5 million permanent first mortgage to refinance the existing debt on a 98-unit multifamily development.

Sheldrick arranged a non-recourse, permanent first mortgage with 30-year amortization for the borrower through one of Largo’s correspondent banks.

The unit mix is comprised of town homes and flats featuring a variety of floor plans. The complex offers a resort style pool and terrace; 24-hour fitness center; movie theater; outdoor grills and park areas.  

The property benefits from it’s proximity to Vassar Brothers Medical Center and Saint Francis Hospital, two of the top employers in the region.

Comments

Add Comment


More from the New York Real Estate Journal