Printer Friendly

Greenthal subsidiary offers residential mortgage loans.

Attractive, long-term, fixed rate first mortgage loans will now be available to a significantly higher number of cooperative corporations in the tri-state area through The Cooperative Capital Group, a subsidiary of the Charles H. Greenthal Group, a full-service Manhattan real estate firm.

Through an exclusive cooperative correspondent arrangement. with PW Funding, a nationwide mortgage banker which was a former subsidiary of Paine Webber, and one of the largest Fannie Mae DUS lenders in the country, Cooperative Capital Group can obtain which are, at present, offered only loans which are, at present, offered only to the most economically-secure cooperatives in premier locations.

"In today's difficult credit environment, this program will provide greater financing opportunities for economically-secure co-operatives throughout the metropolitan area," said Ronald Cypers, managing director of Cooperative Capital Group.

"In most cases, extremely high presale requirements were necessary before any institution would even consider financing a cooperative," he said.

Cypers indicates that seven, 10 and 15 year, fixed-rate loans are available to cooperative corporations with only a 70 percent presale requirement. Cypers further explains that in instances where units are being held by a sponsor, that rents on these units must exceed the maintenance payments.

The Cooperative Capital Group, located within the new Greenthal offices at Four Park Avenue, has already originated well over $40 million of underlying financing in the last four months and anticipates more than $75 million in new originations this year.
COPYRIGHT 1992 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Building Management, Section II; Cooperative Capital Group, Charles H. Greenthal Group
Publication:Real Estate Weekly
Date:Mar 25, 1992
Words:235
Previous Article:Travelers selects Impact Mgt.
Next Article:Chesterton arranges sale of two shopping centers.


Related Articles
CH Greenthal uncovers fraudulent apt broker.
Greenthal, Harlan retained by RTC for asset management.
Co-op board turns-down up 50% in first half of '97.
Building on a greater tradition of service.
Co-op board turndowns rose sharply in 1997.
New Harlem presence for Charles H. Greenthal & Co.
Greenthal Mngmt. develops emergency plan.
Greenthal, FDNY host fire safety conference. (Transcripts).
Greenthal launches new web site. (Technology Update).
Charles Greenthal sold.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters