Phillips of Largo Real Estate arranges $11.9 million mortgage refinancing

Otsego County, NY Jack Phillips of Largo Real Estate Advisors successfully arranged an $11.9 million permanent first mortgage to refinance the existing debt and partially fund a $4 million property improvement plan (PIP) for a 106-key Hampton Inn hotel.

Located between Binghamton and Albany, the property benefits from strong regional demand drivers, including proximity to the National Baseball Hall of Fame and Cooperstown All-Star Village. The financing featured competitive terms to support the planned improvements and enhance the long-term value of this well-located hospitality asset.

Largo Capital continues to deliver tailored financing solutions across the hospitality sector throughout the Northeast.

Tags: Brokerage Capital Region

Reprint

Previous Story Next Story

Manhattan office leasing tops 10 million s/f for ninth consecutive quarter, Lee & Associates NYC reports

Manhattan, NY Manhattan’s office market continued its recovery in the third quarter of 2026, recording more than 10 million s/f of leasing activity for the ninth

Investment Property Realty Group sells 460 15th St. in Park Slope for $3.25 million

IPRG sells 460 15th St. for $3.25m

GFP Real Estate signs two new leases totaling 21,000 s/f at 318 West 39th St.

GFP signs two new leases at 318 West 39th St.

Cleeman Realty Group sells Fort Valley Shopping Center in Georgia

Cleeman sells Fort Valley S.C. in Georgia

Simi Capital enters Texas with acquisition of 359,000 s/f small-bay industrial portfolio in Northwest Houston

Simi Capital acquires 359,000 s/f small-bay industrial portfolio in Northwest Houston

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

CBRE arranges $30 million sale of former industrial building into converted multifamily property

Columns and Thought Leadership

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.

Hunt CRE question and answer: Choosing a real estate agent - by David Hunt

First, we will only work with one agent exclusively. The primary reason is that we want that agent to legally represent our client’s interests. In New York State, a real estate agent has a fiduciary

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

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