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Helmsley arranges $7M package.

Helmsley arranges $7M package

The Finance Division of Helmsley-Spear, Inc. has secured a $7 million first mortgage to refinance three buildings all located on Broadway in Midtown Manhattan, it was announced by Helmsley Senior Vice President Earle Altman, Ira G. Feiler, vice president and Manhattan mortgage specialist, was the broker in the transaction.

The buildings, which are all loft-showroom, contain a total of 257,719 square feet and encompass an entire blockfront on Broadway.

According to Feiler, the negotiations of the transaction extended more than one year and were not completed until both the borrower and the lending institution felt comfortable and secure with all of the terms and conditions. The 10-year mortgage was placed with a major institution, Feiler said.
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Title Annotation:Helmsley-Spear Inc., first mortgage to refinance three buildings
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Feb 5, 1992
Previous Article:Harvey S. Mann.
Next Article:In London, overseas investment on rise.

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