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National Cooperative Bank (NCB).

National Cooperative Bank (NCB), one of the largest originators of underlying mortgages for cooperative housing corporations, recently arranged $42.26 million in financing for 24 New York area co-ops. The financings included $38.51 million in first mortgages and secured lines of credit worth $3.75 million. The announcement was made by Edward Howe III, managing director of the firm's New York office.

Howe arranged the largest transaction, a $19.7 million first mortgage for the 777-unit co-op located at 1270 East 51st Street in Brooklyn, NY In addition, Howe originated a $2.85 million first mortgage for the 57-unit co-op located at 2178 Montauk Highway in Amagansett, NY; a $1.5 million fist mortgage for the 36-unit coop located at 35 West 9th Street in Manhattan; and a $600,000 first mortgage accompanied by a $100,000 line of credit for the 42-unit co-op located at 130 West 16th Street in Manhattan.

Paulette Bonanno, NCB's vice president and loan officer, arranged the second largest transaction, a $4.48 million first mortgage for the 98-unit co-op located at 40 West 77th Street in Manhattan. She also originated a $1.5 million line of credit for the 315-unit co-op located at 4705 and 4901 Hemy Hudson Parkway in Riverdale, NY; a $1 million first mortgage accompanied by a $250,000 line of credit for the 13-unit co-op located at 288 West Street; a $550,000 first mortgage accompanied by $100,000 line of credit for the 53-unit co-op located at 133 Summit Avenue in Summit, NY; a $500,000 first mortgage for the 27-unit co-op located at 36 West 84th Street in Manhattan; a $400,000 first mortgage for the 129-unit co-op located at 84-51 Beverly Road in Kew Gardens, NY; a $300,000 line of credit for the 56-unit co-op located at 223 West 21st Street in Manhattan; and a $100,000 line of credit for the 35-unit co-op located at 256 West 21st Street in Manhattan.

In addition, NCB vice president and loan officer Sheldon Gartenstein arranged a $2.5 million first mortgage accompanied by a $400,000 line of credit for the 141-unit co-op located at 34-41 85th Street in Jackson Heights, NY; a $1.15 million first mortgage accompanied by a $150,000 line of credit for the 48-unit co-op located at 110-120 Stonlea Place in New Rochelle, NY; and a $500,000 line of credit for the 36-unit co-op located at 37 Brompton Road in Great Neck, NY.

Finally, NCB assistant vice president and loan officer Mindy Goldstein arranged a $1.65 million first mortgage for the 58-unit co-op located at 205 West Post Road in White Plains, NY; a $360,000 first mortgage for the 10-unit co-op located at 504 East 6th Street in Manhattan; a $215,000 first mortgage for the nine-unit co-op located at 53 Montgomery Street in Brooklyn, NY; a $200,000 first mortgage for the 14-unit co-op located at 806 Washington Avenue in Brooklyn, NY; a $200,000 line of credit for the 84-unit co-op located at 12 Hempstead Avenue in Rockville Centre, NY; a $200,000 first mortgage for the four-unit co-op located at 801 Union Street in Brooklyn, NY; a $155,000 first mortgage for the five unit co-op located at 55 Seventh Avenue in Brooklyn, NY; and a $150,000 line of credit for the six-unit co-op located at 43 Great Jones Street in Manhattan.
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Publication:Real Estate Weekly
Geographic Code:1U2NY
Date:Dec 8, 1999
Words:567
Previous Article:Park Avenue Commercial Group.
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