New York, NY (March 6, 2017) – National Cooperative Bank (NCB), a leading
lender to cooperative housing throughout the Tri-State area, originated $30.7 million
in new loans during February for 11 New York area properties. Edward Howe III,
managing director of the NCB New York office, made the announcement.
Mindy Goldstein, senior vice president reported
$19.8 million in originations during February, including the largest loan of
the month, an $11 million first mortgage and a $750,000 line of credit for an
80-unit co-op at 9 Barrow Street in Manhattan.
Other financing for the month included:
- A $3.8 first mortgage and a $500,000 line of
credit for Rockville Tudor Apt. Corp., a 78-unit co-op at 12 Hempstead Avenue
in Rockville Centre, NY;
- A $2 million first mortgage for Southridge Cooperative
Section 1, Inc., a 359-unit co-op at 33 93rd Street in Jackson Heights, NY;
- A $1.2 million first mortgage for East Meadow
Knolls Redevelopment Company Owners Corp., a 240-unit co-op at 555 Salisbury
Park Drive in East Meadow, NY;
- A $250,000 first mortgage and a $300,000 line
of credit for a 20-unit co-op at 5-7 Charles Street in Manhattan.
Seligman, vice president originated $7.9 million in February,
- A $3.2 million first mortgage and a $500,000
line of credit for Belgravia Gardens Corp., a 71-unit co-op at 61-88 Dry Harbor
Road in Middle Village, NY;
- A $1 million first mortgage and a $500,000 line
of credit for 140 Sullivan Cooperative Corp., a nine unit co-op at 138-40
Sullivan Street in Manhattan;
- An $825,000 first mortgage for a 17-unit co-op
at 83- 85 1st Avenue in Manhattan;
- An $815,000 first mortgage and a $400,000 line
of credit for Peekskill Towers Corp., a 123-unit co-op at 1 Lakeview Drive in
- A $650,000 first mortgage for Beach Lofts,
LTD., a six-unit co-op at 10 Beach Street in Manhattan.
Howe III, managing director of NCB’s New York
office, reported $3 million in
originations during February, including:
- A $2.5 million first mortgage and a $500,000
line of credit for an 87-unit co-op at 345 Bronx River Road in Yonkers, 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.
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 and Instagram, or on Twitter