News:
Brokerage
Posted: May 10, 2010
Beech Street provides $1.6 million in permanent financing for 64-unit apartment complex
Beech Street Capital, LLC provided a $1.6 million fixed-rate loan for the refinance of Steven's Walk Apartments. The transaction was originated by Beech Street Capital under the Fannie Mae DUS Small Loan program. Steven's Walk Apartments is a garden-style complex that consists of 64 multifamily units. The complex was constructed in 1965. The units have recently updated kitchen and bathrooms.
The fixed-rate loan has a term of five years, with three years of yield maintenance, and a 30-year amortization schedule on an actual/360 basis. The loan was structured to provide the borrower with flexible pre-payment options.
Tags:
Brokerage
MORE FROM Brokerage
Law Firm Nutter expands space to 11,438 s/f at 5 Grand Central East
Manhattan, NY According to the Durst Organization, full-service law firm Nutter is expanding their office at 5 Grand Central East to 11,438 s/f. Nutter will take the entire 25th floor, in addition to renewing the firm’s existing office space on the 27th floor of the building.
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler
New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi
Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
.gif)