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Brokerage
Posted: November 1, 2016
Bruck of Time Equities completes three financing deals totaling $17.85 million
Stuart Bruck, TEIManhattan, NY According to Stuart Bruck, director of mortgage brokerage at Time Equities, he has completed the following deals totaling $17.85 million:
• $10.85 million loan closed for a 4,834 s/f commercial condominium comprised of five retail stores located on Seventh Ave. in Midtown. The loan has a 7 year term. The rate was set at 3.25% for the 7-year term.
• $5 million loan closed for a retail and office center located on Jefferson Ave. in Rochester, consisting of three individual single-story buildings. Surrounding these buildings are 725 parking spaces and 42 handicapped spaces. The interest rate for this loan is 30 day LIBOR + 2.50%. The term is 3 years.
• $2 million loan: The collateral for the loan consists of the commercial leasehold interest in the ground floor of a cooperative apartment building in the Upper West Side. The term of the loan is 5 years with an interest rate of 3.625%
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