C&S on fast track into market.City & Suburban Federal Savings Bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks (C&S) continues to experience business growth as indicated by its active lending and support in the New York Metro For the region, see . Metro New York is a free daily newspaper in New York City started in 2004. Its main competition is AM New York, with which it practices many of the same distribution and marketing strategies. Real Estate market. C&S has just announced $3.5 million of additional multi-family and commercial loan closings in the New York Metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . "The commercial mortgage market remains a favorite among investors and lenders", says Joseph J. Laquidara, Senior Vice-President, City & Suburban Federal Savings Bank. "The relatively low interest rates combined with diversified financing trends and products sustain an ideal market environment. This is a trend not only in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , but in many northeastern cities." "We're into another year with over $200 million in loans with the latest batched deals processed through our Fast-Track financing program," says Laquidara. Examples of C&S' latest lendings include $1.2m for a 7,500 s/fretail building in Westchester County; $1m for a 40 unit residential apartment building in Midwood, Brooklyn Midwood is a neighborhood in the south central part of the New York City borough of Brooklyn, New York, USA, roughly halfway between Prospect Park and Coney Island. ; $750,000 for a 40 unit residential apartment building in Queens. Robert E. Reiner, Vice President and Mortgage Officer at C&S said, "With our process we can out perform most banks in the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Real Estate market for commercial and multi-family loans. We see opportunities that others miss. "Our 'Fast-Track' process means fast action, wide flexibility and total commitment on our part for loans from $5m-$7m. Most loans are committed in two weeks and close in 45 days. "For larger loans, $8m-$15m we bring in additional participants." |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion