News: Brokerage

Bruck of Time Equities closes six loans totaling $97.45 million; Includes three loans for office condos totaling $91.5 million

Stuart Bruck of Time Equities, Inc. has closed six loans totaling $97.45 million. The deals include: * Three different loans with three different lenders totaling $91.5 million for different office condominiums in the same class A office building. The N.Y.C. condominium units were pledged to three different lenders to allow the borrower to take advantage of the varying credit ratings of the tenants, lease maturities and rents to obtain very advantageous interest rates and terms. * Two loans, totaling $4.45 million were closed for the same principal with a Queens-based bank on two properties located in the Bronx. The six-story, 60-unit cooperative building situated in the Riverdale section of Bronx was refinanced for 15 years with an interest rate fixed at 4% for the entire loan. The loan was $1.7 million. The second building is a six-story mixed-use building with 70 apartments and five stores located in the Kingsbridge neighborhood of Bronx. The property was refinanced for 15 years with an interest rate fixed at 3.875%. * A $1.5 million first mortgage lien was closed for the term of three years with a New York-area bank. The collateral for the loan was five investment rental residential condominium units located in Bay Ridge neighborhood of Brooklyn that are 100% occupied.
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Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,