$6.5 million loan arranged by Moloff and Waldman of Cooper-Horowitz

Michael Moloff and Mark Waldman of Cooper-Horowitz, Inc., arranged $6.5 million in permanent financing for The Radisson Hotel of New Rochelle. A five-year mortgage was secured at a rate of 7% with a five-year extension option. Moloff and Waldman negotiated on behalf of the borrower, Brock Services Corp. Associate broker Moloff said, "First Central Savings Bank provided the most competitive loan available in the market, with a 7% interest rate and non-recourse financing. The conservative loan structure and strength of the sponsorship provided the security and confidence necessary to arrange the financing." The Radisson Hotel consists of a 10-story, 135,000 s/f full-service hotel and corporate office building. The property features 129 guest rooms, 12 office tenants and 225 parking spaces. The property is located 19 miles north of Manhattan off I-95, within walking distance to Metro North and Amtrak rail stations. It is the only full service hotel in New Rochelle and has amenities including, outdoor pool, business center, full service restaurant, lounge, and 6,400 s/f of banquet facilities.