New York, NY (January 5, 2018) – National Cooperative Bank (NCB), a leading lender to cooperative housing throughout the Tri-State area, originated over $33 million in new loans during December for 16 New York area housing cooperatives. Edward Howe III, managing director of the NCB New York office, made the announcement.
Harley Seligman, vice president, reported $18.5 million in originations during the month, including the largest loan of the month, a $7.5 million first mortgage for Highpoint-On-The Hudson Owners, Inc., a 120-unit co-op at 2727 Palisades Avenue in Riverdale, NY. Other financing for the month included:
A $3.5 million first mortgage and a $250,000 line of credit for a 58-unit co-op at 2390 Palisade Avenue in Bronx, NY;
A $2 million first mortgage and a $500,000 line of credit for Barclay Plaza North Owners, Inc., a 58-unit co-op at 110-11 72nd Avenue in Forest Hills, NY;
A $2 million first mortgage and a $250,000 line of credit for Crestwood Owners, Inc., a 124-unit co-op at 1-24 Leewood Circle & 156, 160 Lincoln Avenue in Eastchester, NY;
A $1.1 million first mortgage and a $250,000 line of credit for Mates Owners Corp., a 65-unit co-op at 100 Avenue P in Brooklyn, NY;
An $860,000 first mortgage for Hadley Mews Owners Corp., a 12-unit co-op at 10 Wooleys Lane in Great Neck, NY;
A $250,000 term loan for The Riverview Condominium, a seven unit condominium association in Brooklyn, NY.
Mindy Goldstein, senior vice president originated $13 million for the month, including:
A $3.7 million first mortgage and a $200,000 line of credit for a 54-unit co-op at 190 East Mosholu Parkway South in Bronx, NY;
A $2.6 million first mortgage and a $250,000 line of credit for a 67-unit co-op at 68 East Hartsdale Avenue in Hartsdale, NY;
A $1.9 million first mortgage and a $500,000 line of credit for Sunnylane Of Bethpage Redevelopment Company Owners Corp., a 300-unit co-op at 400 Central Avenue in Bethpage, NY;
A $900,000 first mortgage and a $300,000 line of credit for a 14-unit co-op at 58-60 West 15th Street in Manhattan;
A $900,000 line of credit for a 21-unit co-op at 534 East 11th Street in Manhattan;
An $850,000 line of credit for 155 Tenants Corp., a 72-unit co-op at 155 East 93rd Street in Manhattan;
A $450,000 first mortgage for an eight unit co-op at 232 West 75th Street in Manhattan;
A $375,000 first mortgage and a $50,000 line of credit for a 10-unit co-op at 221 Fifth Avenue in Brooklyn, NY.
Edward Howe III, managing director of NCB’s New York office, reported $1.9 million in originations during December, including:
A $1.6 million first mortgage and a $250,000 line of credit for 3321 Pelham Bay Owners Corp., a 70-unit co-op at 3321 Bruckner Blvd. in Bronx, NY.
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.
