Stuart Bruck of Time Equities, announced the following loan closings totaling $69,380,946.Stuart Bruck of Time Equities, announced the following loan closings totaling $69,380,946. * $20,748,446 first mortgage loan closed which funded the acquisition and conversion costs for the conversion from a rental building to condominium status of a 9-story apartment building with 53 large apartments located at 134 West 93rd Street, 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 . The loan was equal to 90% of the total development costs. The loan has a term of 30 months and is a non-recourse loan. * A $7,775,000 land loan closed which financed the acquisition of a site which will be converted into a new luxury mixed-use 8-story condominium building. The site is located in East Harlem. * A $1,750,000 first underlying mortgage and a line of credit in the amount of $250,000 recently closed which refinanced the existing debt on a 7-story elevatored apartment building containing a total of 60 apartments. The property is located just north of Van Cortland State Park in Yonkers. The rate was set at 5.97% fixed for 10 years. * A $7,000,000 construction loan recently closed. The loan proceeds were used to construct a 34,213 square foot shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into with 175 parking spaces located in Bedford Park Bedford Park is the name of several places around the world:
* A $18,000,000 first mortgage loan recently closed. Loan proceeds were used to the acquisition and common area improvements of the property. The loan equal 85% of the total project costs and was priced at Libor + 2.15%. The complex is very well located in Annapolis, Maryland “Annapolis” redirects here. For other uses, see Annapolis (disambiguation). Annapolis is a city in the United States of America with a population of 36,408 (July 2006 est.), the capital of the State of Maryland and the county seat of Anne Arundel County. . It is comprised of seven 3-story garden style buildings with a total of 84 units. All units feature high end amenities. The borrower will convert the property from rental to condominium status. * A $2,200,000 recently closed which refinanced the existing debt. The loan was secured by the fee title on the property in Montreal, Quebec. The building is a 10-story 41,100 square foot office building. The loan features a fixed rate for 10 years at 5.22%. * A $5,800,000 first mortgage loan recently closed. The property is a pre-war 6-story walk up apartment building with a limestone facade located in Greenwich Village Greenwich Village (grĕn`ĭch), residential district of lower Manhattan, New York City, extending S from 14th St. to Houston St. and W from Washington Square to the Hudson River. , New York. The loan will allow the conversion of the existing building to condominium status. The interest rate is equal to Libor + 2%. * A $1,257,500 first mortgage loan was recently closed which provided funds for the acquisition of the buildings. The subject properties are two adjoining building that have brick veneer facades. The buildings are located in New Haven New Haven, city (1990 pop. 130,474), New Haven co., S Conn., a port of entry where the Quinnipiac and other small rivers enter Long Island Sound; inc. 1784. Firearms and ammunition, clocks and watches, tools, rubber and paper products, and textiles are among the many , Connecticut. * A $3,500,000 first mortgage closed. The property consists of two 4-story buildings located in the Gramercy Park Gramercy Park (sometimes misspelled as Grammercy) is a small, fenced-in private park in the Gramercy neighborhood of Manhattan, New York City, New York State[1]. area in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . There are 12 residential units and 2 stores. The loan features an interest rate fixed for 10 years at 5.69%. * A $1,100,000 bridge loan recently closed. The funds were used to acquire the property which is currently vacant. The building has a total of 9 units. The loan closed in 30 days. The subject is located near the Clinton Hill Clinton Hill has multiple meanings: Places
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