Larew and Kinder of Larew, Doyle & Associates collaborate for $29.55 million

According to Larew, Doyle & Associates, the Midtown-based correspondent mortgage banking firm has recently closed four commercial real estate financings totaling $29.55 million in the boroughs. Managing principal Andrew Larew and partner Chris Kinder collaborated on the transactions. A permanent loan of $12.4 million was placed on an 80,000 s/f office building on Joralemon St. in Downtown Brooklyn. The property was recently fully rehabbed by the owners and stabilized with professional and medical tenants. The loan was made with a correspondent insurance company with a 10 year fixed rate below 5.00%. A $2.475 million permanent loan was made on a 10-unit apartment building with ground floor retail at 10-59 50th Ave. Long Island City. The project was coming off of ground-up construction and was fully leased for closing. The loan has a 10 year fixed rate term at 5.625% with a 30 year amortization A blanket loan for $8.6 million was closed to refinance two properties on Willis Ave. in the Bronx. The buildings are anchored by a charter school and an agency for the city of New York. The loan has a five-year initial term, 25 year amortization, and an initial interest rate below 5.00%. A $6 million loan was made to refinance 327 Walnut Ave. in the Bronx, a 132,000 s/f warehouse and self-storage property. The facility is partially owner-occupied by a moving and storage company. The 5-year facility has a 25 year amortization and carries an initial rate below 5.00%. The loan was placed with a private bank. Larew, Doyle & Associates is a regional mortgage banking and capital markets firm with offices in New York, Providence, RI and Syracuse, NY. The firm underwrites and services real estate loans and investments for insurance companies, banks and other institutions.