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National Cooperative Bank Completes $5.2 Million Loan to 160-unit Co-op in Jackson Heights

(New York, N.Y. – January 22, 2015) – National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the Tri-State area, has arranged a $5.2 million loan for 34-15 Properties, Ltd.,  a 160-unit cooperative at 34-15 74th Street and 34-10 75th Street in Jackson Heights, NY. Mindy Goldstein, a senior vice president in NCB’s New York office arranged the $4.2 million first mortgage and $1 million line of credit, and the announcement was made by NCB Managing Director Edward Howe III.

The 62-year-old cooperative apartment on 74th and 75th streets between 34th and 35th avenues consists of two, six-story buildings located in the heart of Queens. Constructed in 1952, and converted to cooperative ownership in 1982, the board plans upgrades to parapet walls and the building’s roofs. Access is available to the E, F, M, R and 7 subway lines, the Long Island Expressway, Brooklyn Queens Expressway, and Grand Central Parkway, as well as the Long Island Rail Road and LaGuardia Airport. Residents can enjoy a number of cultural attractions including Flushing Meadows Corona Park, CitiField, bowling, restaurants, parks, and more.

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.

About National Cooperative Bank:

National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @coopbanking.