Edward Howe III, National Cooperative BankNew York, NY According to Edward Howe III, managing director of National Cooperative Bank (NCB), the bank originated $35.3 million in new loans during December for 18 New York area properties.
Howe reported $16.2 million in originations during December, including the largest loan of the month, a $6.1 million first mortgage for Oceanview Towers Inc., a 160-unit co-op at 2652 Cropsey Ave. in Brooklyn. Other financing for the month included:
• A $3.4 million first mortgage and a $500,000 line of credit for 60-104 Owners Corp., an 89-unit co-op at 60-104 Pinewood Rd. in Hartsdale
• A$3.3 million first mortgage for a 63-unit co-op at 55 Lenox Rd. in Rockville Centre.
• A $1.5 million first mortgage for The Fordham Terrace Apartment Corp., a 72-unit co-op at 2661 Marion Ave. in Bronx.
• A $700,000 first mortgage and a $250,000 line of credit for a four-unit co-op at 69 Washington Place in Manhattan.
• A $400,000 first mortgage and a $100,000 line of credit for Fifth 169 Owners Corp., a six-unit co-op at 169 Fifth Ave. in Brooklyn.
Harley Seligman, vice president, originated $12.5 million in December. Financing for the month included:
• A $5 million first mortgage for Mainstay Cooperative Section One Inc., a 108-unit co-op at 144-55 Melbourne Ave. and 144-60 Gravett Rd. in Flushing;
• A $2.1 million first mortgage and a $500,000 line of credit for Shore Road Apartment Corporation, a 59-unit co-op at 485 Pelham Rd. in New Rochelle;
• A $1.5 million second mortgage and a $1.5 million third mortgage for a 133-unit co-op at 136 East 56th St. in Manhattan;
• An $850,000 first mortgage and a $250,000 line of credit for Clongowes Wood, Inc., a 25-unit co-op at 334 West 22nd St. in Manhattan;
• A $500,000 first mortgage for a 68-unit coop at 82-88 Horatio St. in Manhattan;
• A $250,000 line of credit for Chelsea Row, Inc., a 20-unit co-op at 320 West 17th St. in Manhattan.
Mindy Goldstein, senior vice president, reported $6.7 million in originations during December, including:
• A $3 million first mortgage and a $500,000 line of credit for Sunset Green Housing Corporation, a 69-unit co-op at 159 Hawthorne Ave. in Yonkers;
• A $750,000 first mortgage and a $500,000 line of credit for 93rd Street Owners Corp., a 25-unit co-op at 125 East 93rd St. in Manhattan;
• A $600,000 line of credit for a 59-unit co-op at 120-10-12 85th Ave. in Kew Gardens;
• A $500,000 first mortgage for a 20-unit co-op at 510 East 5th St. in Manhattan;
• A $500,000 first mortgage for an 18-unit co-op at 513 East 5th St. in Manhattan;
• A $300,000 term loan for Long Beach Towne House Condominium, an 18-unit condominium at 651-655-659 Shore Rd. in Long Beach.
As a full-service financial institution, NCB offers an array of business banking products for housing cooperatives and management companies including cash management, competitive deposit rates and full service payment processing and lockbox.
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