National Cooperative Bank originates $34.3 million in new loans in January for 13 New York area properties

According to Edward Howe III, managing director of National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the tri-state area, the bank originated $34.3 million in new loans during January for 13 New York area properties. Howe originated nearly $20 million in new loans during January, including: * A $5 million line of credit for Rex Ridge Apartment Corp., a 371-unit co-op at 23 Fieldston Dr. in Hartsdale, NY. * A $3.6 million first mortgage and a $500,000 line of credit for a 124-unit co-op at 310 Lexington Ave. in Manhattan. * A $3.5 million first mortgage and a $500,000 line of credit for a 99-unit co-op at 2 Bronxville Rd. in Yonkers. * A $2.6 million first mortgage and a $1 million line of credit for an 89-uint co-op at 510 East 86th St. in Manhattan. * A $2 million first mortgage and a $500,000 line of credit for a 66-unit co-op at 3210 Arlington Ave. in Riverdale, NY. * A $650,000 first mortgage and $100,000 line of credit for a 17-unit co-op at 80 Lincoln Ave. in Rockville Centre, NY. Additionally, Mindy Goldstein, a senior vice president at NCB, arranged $10.7 million in financing, including the largest loan of the month, a $5.3 million first mortgage and a $500,000 line of credit for a 158-unit co-op at 37-31 73rd St. in Jackson Heights. Other financing included: * A $4 million line of credit for Country Club Gardens Owners, Inc., a 219-unit co-op at Farber Dr. in West Babylon, NY. * A $600,000 line of credit for an eight-unit co-op at 265-267 Water St. in Manhattan. * A $300,000 Assignment of Assessment and Rights for Greenridge Estates Condominium, an 82-unit condo at 1-13 Greenridge Ave. in White Plains, NY. NCB vice president Harley Seligman arranged $3.6 million in new loans during January, including: * A $2.3 million first mortgage and a $250,000 line of credit for Denn Owners Corp., a 73-unit co- op at 2835 Webb Ave. in Bronx, NY. * A $750,000 first mortgage for a six-unit co-op at 17 Warren St. in Manhattan. * A $350,000 first mortgage for a ten-unit co-op at 280 West 12th St. in Manhattan. As a full-service financial institution, NCB provides term loans, lines of credit, commercial and residential mortgages and personal and business banking products to cooperatives nationwide. NCB offers an array of business banking products for cooperatives including cash management, competitive deposit rates and full service payment processing and lockbox.