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M. Tuck Capital Associates.

M. Tuck Capital Associates announces the successful placement of new first lien mortgages totaling $16.28 million. Michael E. Tuck arranged $6 million in underlying mortgage financing for an 800-unit cooperative located in Queens, NY. The cooperative is 100 percent sold and 100 percent owner-occupied,. and covers approximately 50 acres. The 30-year fixed-rate loan closed at 7.06 percent for the full term of the loan. The loan was placed with a national lender, which charged no fee for the transaction.

In another transaction, Tuck arranged $1.5 million for a 36-unit five- story walkup located on Avenue A in Manhattan. The property contains three stores and will benefit from the 7.25 percent seven-year fixed-rate loan. The loan was placed with a regional lender, which waived its fee for this transaction.

Brian P. Greenfield arranged financing of $8.78 million for seven properties containing 322 units and 10 stores. The properties are located in the Flatbush and East New York sections of Brooklyn, and one is located in Jamaica, Queens. The 10-year fixed-rate loans closed at a rate of 7 percent. The loans were closed with a regional lender, which charged no origination fee.
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Publication:Real Estate Weekly
Geographic Code:1U2NY
Date:Dec 8, 1999
Words:195
Previous Article:National Cooperative Bank (NCB).
Next Article:First Funding.
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