Unsold Co-op & Condo Portfolio
Unsold Co-op & Condo Portfolio
Location: NY Tri-State AreaProperty Type: Multifamily
Size: 267 units
Investment Type: First Mortgage
Investment Size: $13,750,000
Closing Date: June 2011
RCG Longview co-originated a $27,500,000 first mortgage to recapitalize a portfolio of 267 residential units comprised of unsold cooperative & condominium units, and multifamily rental properties totaling 262,839 square feet. The loan, which allowed the borrower to take advantage of a discounted payoff, closed in 21 days. The properties are located in Manhattan, Brooklyn, the Bronx, and Westchester County, NY.
