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Long Island
Posted: February 20, 2009
Leonard Primack Associates arranges $1.09 million refinancing
Paul Utah of Paul Utah, LLC and Leonard Primack of Leonard Primack Associates, Ltd have arranged a $1.09 million first mortgage refinancing for a 4-unit shopping strip located at 640-654 Broadway.
The lender is a New York City thrift organization. The mortgage was fixed for 15 years based on a 30-year amortization. The fixed interest rate for the 15-year period was 6.875%.
The 9,000 s/f shopping strip consists of a laundromat, hair salon, and Italian restaurant and bakery.
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Long Island
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The evolving relationship of environmental consultants and the lending community - by Chuck Merritt
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.