National Cooperative Bank (NCB).National Cooperative Bank The National Consumer Cooperative Bank (NCCB) was created and chartered by the National Consumer Cooperative Bank Act (92 Stat. 499, 12 U.S.C.A. 3001), enacted on August 20, 1978. The bank is directed by the act to encourage the development of new and existing cooperatives. (NCB (Network Control Block) A packet structure used by the NetBIOS communications protocol. ), one of the largest originators of underlying mortgages for cooperative housing cooperative housing n. an arrangement in which an association or corporation owns a group of housing units and the common areas for the use of all the residents. corporations, ended 1999 with a flurry Flurry A drastic volume increase in a specific security. of activity, arranging more than $15.2 million in financing for 14 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 area co-ops in December. The financings included $11.38 million in first mortgages and lines of credit valued at $3.9 million. The announcement was made by Edward Howe III, managing director of the firm's New York office. Howe arranged the largest transaction in December, a $3.3 million first mortgage for the 122-unit co-op located at 177 East Hartsdale Avenue in Hartsdale, NY. Howe also originated a $1.41 million first mortgage for the 41-unit co-op located at 6291-95-99 Broadway in Riverdale, NY; and a $700,000 first mortgage for the 54-unit coop COOP See Banks for Cooperatives (COOP). located at 55 Ehrbar Avenue in Mt. Vernon, NY. In addition, NCB Vice President and Loan Officer Paulette Bonanno arranged a $2 million line of credit for the 147-unit co-op located at 301 East 64th Street in Manhattan; a $1 million first mortgage accompanied by a $200,000 line of credit for the 64-unit co-op located at 328 West 17th Street in Manhattan; and a $500,000 line of credit for the 68-unit co-op located 110 East 87th Street in Manhattan. NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers Vice President and Loan Officer Sheldon Gartenstein arranged a $1.5 million first mortgage accompanied by a $300,000 line of credit for the 59-unit co-op located at 854 West 181st Street in Manhattan; a $1.4 million first mortgage for the 10-unit co-op located at 565 Broadway in Manhattan; a $1.3 million first mortgage accompanied by a $200,000 line of credit for the 47-unit co-op located at 115 Eastern Parkway in Brooklyn, NY; and a $450,000 first mortgage for the 37-unit co-op located at 108 East 91st Street in Manhattan. Finally, NCB Assistant Vice President and Loan Officer Mindy Goldstein arranged a $300,000 line of credit for the 127-unit co-op located at 6485/6495 Broadway in Riverdale, NY; a $300,000 line of credit for the 52-unit co-op located at 925 Union Street in Brooklyn, NY; a $200,000 first mortgage for the eight-unit co-op located at 719 Carroll Street in Brooklyn, NY; and a $125,000 first mortgage accompanied by a $100,000 line of credit for the nine-unit co-op located at 320 East 14th Street in Manhattan. |
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