Arlington, VA (July 19, 2016) — National Cooperative Bank (NCB), a leading financial services
company dedicated to serving cooperatives nationwide, recently closed a $25.6
million first mortgage to University Towers Owners Corp., a housing cooperative
at 100 York Street in New Haven, Conn. NCB Senior Vice President Larry Mathe was the business development
officer on the deal.
The 16-story-plus-basement, mixed-use
cooperative building consists of 238 residential units, 13 medical offices and
parking for approximately 242 vehicles. University Towers Owners Corp. was
constructed in 1958 and converted to a housing cooperative in in 1981.
NCB’s loan proceeds were used to refinance existing debt and to fund a major
façade restoration project that includes balcony renovations, window, door and
curtain wall replacement and masonry repairs.
Situated between Crown and George
streets, University Towers Owners Corp. is just steps from Yale University, Yale-New
Haven Hospital and a number of restaurants and small, local businesses.
Transportation options include the New Haven/State Street Metro-North Station,
I95/Connecticut Turnpike and I91.
About National Cooperative Bank:
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 @NatlCoopBank.