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National Cooperative Bank’s New York Office Reports $22.4 Million in Loans During January

New York, NY (February 4, 2016) – National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the Tri-State area, announced that the Bank originated $22.4 million in new loans during January 2016 for 13 New York area properties. Edward Howe III, managing director of the NCB New York office, made the announcement. 

Senior Vice President Mindy Goldstein arranged $18.2 million during January, plus the largest loan of the month, a $4.5 million first mortgage and $500,000 line of credit for a 62-unit co-op at 855 East Broadway in Long Beach, NY. Other financing during the month includes:  

  • A $3 million first mortgage and $300,000 line of credit for 601 79 Owners Corp., a 113-unit co-op at 601-633 79th Street in Brooklyn, NY;
  • A $2.5 million first mortgage for a 72-unit co-op at 170 Second Avenue in Manhattan; 
  • A $2.2 million first mortgage for a ten-unit co-op at 33 Greene Street aka 33-35 Greene Street aka 80-88 Grand Street in Manhattan;
  • A $1 million line of credit for Hudson Street Owners Corp., a 36-unit co-op at 90 Hudson Street in Manhattan;
  • A $900,00 first mortgage and $150,000 line of credit for West 12th Street Tenants Corp., a 16-unit co-op at 44-48 West 12th Street in Manhattan;
  • A $750,000 line of credit for Three Twenty Five Cooperative Inc., a 17-unit co-op at 325 Central Park West in Manhattan;
  • A $600,000 line of credit for West 52nd Street Apartment Corp., a 33-unit co-op at 325 West 52nd Street in Manhattan;
  • A $550,000 first mortgage and $250,000 line of credit for Bronxville Gardens Owners Corp., a 16-unit co-op at 51 Cross Street in Yonkers, NY;
  • A $500,000 line of credit for Picasso Way Owners, Inc., a 126-unit co-op on Middle Country Road in Middle Island, NY; and
  • A $352,000 first mortgage and $100,000 line of credit for a four-unit co-op at 112 Franklin Street in Manhattan.

Edward Howe III, managing director of NCB’s New York office, arranged $4 million during the month – a $3.5 million first mortgage and $500,000 line of credit for Imperial Owners Corp., a 92-unit co-op at 377 Westchester Avenue in Port Chester, NY.  

Vice President Harley Seligman originated a $250,000 first mortgage for a 13-unit co-op at 507 East 12th Street in Manhattan.  

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.