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$4M new mortgage arranged for East Side luxury co-op.

The Manhattan-based Real Estate Brokerage firm of Robert P. Corso and Company has arranged a new first mortgage in the amount of $4 million on the 21-story luxury co-op building located at 251 East 51st Street, A/K/A 963-71 Second Avenue, New York City.

The building contains 199 units and a garage for 54 cars. The entire ground floor on Second Avenue is retail space occupied by Food Emporium who just expanded. It is on a plot of 100-by-150-feet.

The loan was placed with a major Insurance Company.

Steve Fuchs and Robert P. Corso, Jr. of the Corso organization represented both the co-op board and the lending institution in the transaction.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:May 6, 1992
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