February 21 - March 6, 2017

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Financial Digest

Manhattan, NY The Singer & Bassuk Organization (SBO) has  represented The William Kaufman Organization and a subsidiary of Travelers Insurance Co., in arranging a $65 million leasehold mortgage loan in Midtown East for 747 Third Ave. The loan was provided by AXA Equitable Life Insurance Company, with underwriting and closing services provided by Quadrant Real…Read More

Manhattan, NY Meridian Capital Group has arranged $6.4 million in financing to refinance a commercial property on the Upper East Side. The five-year loan, provided by a regional balance sheet lender, features a competitive fixed rate of 3.75% and a five-year extension option. This transaction was negotiated by Meridian managing director, Brian Flax, and associate,…Read More

Queens, NY Ridgewood Savings Bank’s board of trustees approved several senior officer promotions. Among them were Connie Manolopoulos as VP, Richard Spiegel as vice president and district manager, and Mirsada Tagani as VP- digital channels. Manolopoulos, has been with the bank for over 29 years, starting part time in 1987 and has worked in the…Read More

Internal Revenue Code Section 1031 allows for the deferral of capital gain tax if property held for productive use in a trade, business or for investment is exchanged for property of “like-kind.” For real estate, the definition of “like-kind” is quite broad, allowing exchanges between and among several different types of investment property, including land,…Read More

New York, NY GATES Capital Corporation has arranged and closed a $6.183 million financing/refinancing for the benefit of Jawonio, Inc., an affiliate of Cerebral Palsy Associations of New York State (CP of NYS). This taxable financing was comprised of four separate credit facilities to take advantage of various points along the yield curve and to…Read More

New York, NY Rockwood Capital, LLC, a private real estate investment firm, has admitted Tony Lariño as a partner in the firm. Lariño is based in the firm’s New York office. The promotion coincides with the final closing of Rockwood Capital Real Estate Partners Fund X, L.P. with $1.1 billion in capital commitments, meeting the…Read More

New York, NY Cushman & Wakefield has secured three loans totaling $3.6 million on behalf of a local investor. The loans were used to refinance acquisition/renovation loans of three Brooklyn assets consisting of two mixed-use buildings at 1005 Broadway and 737 Church Ave. and a five-unit multifamily property at 733 Bushwick Ave. Within two years of acquisition, ownership…Read More

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