Conversion cash.Harvey Rottenberg, principal in NYMC NYMC New York Medical College NYMC New York Maritime College NYMC New York Math Circle Capital Corp., the commercial mortgage affiliate of The New York Mortgage Comply LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , has arranged $2.287 million in interim financing for the acquisition of a partially vacant residential building on West 74th Street in Manhattan. The building is slated for renovation and conversion to condominiums. Mr. Rottenberg says the one-year loan. placed on behalf of a Virginia-based developer, was priced 225 basis points over the one-month London Interbank Offered Rate London Interbank Offered Rate A short-term interest rate often quoted as a 1,3,6-month rate for U.S.dollars. , or LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). . He says the developer. who has prior experience in the New York market, took the interim financing approach because he "required time to complete negotiations for the buyout of an existing tenant before determining the project's final configuration." The loan was originated by Sivan Achor of Mortgageline.com. |
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