First Central Savings Bank

Real Estate Weekly, Dec 12, 2001

First Central Savings Bank announced the following transactions:

* An $800,000 refinancing for a four-story, multi-family building on 35th St. in Astoria, N.Y. The loan featured a five-year term and a 25-year amortization schedule;

* A $1.25 million new mortgage for a multi-family, elevator building in Morningside Heights, N.Y. The loan featured a 10-year term and a 25-year amortization schedule;

* A $1.8 million new mortgage for a four-story, mixed-use, apartment building in the Soho section of New York City. The loan featured a 6.85% interest rate, a 10-year term, and a 25-year amortization schedule;

* A $2.8 million new mortgage for a multi-family, elevator building in Kew Gardens, N.Y. The loan featured a 7.25% rate, a 15-year term, and a 25-year amortization schedule;

* A $3.2 million new mortgage for a 70,000 SF modem office building in Garden City, N.Y. The loan featured an 8% rate, a five-year term, and a 25-year amortization schedule;

* A $550,000 new mortgage for a three-story, mixed-use building in Astoria, N.Y. The loan featured a 7.75% rate, a five-year term, and a 25-year amortization schedule;

* A $725,000 new mortgage for a four-story, walk-up, multi-family building in the Bronx. The loan featured a 6.75% rate, a five-year term, and a 25-year amortization schedule;

* A $700,000 new mortgage for a 15,000 SF new warehouse building in Long Island City, N.Y. The loan featured a 7.25% rate, a seven-year term, and a 25-year amortization schedule;

* And a $2.7 million new mortgage for an underlying co-op loan in New York City. The loan featured a 6.5% rate, a 10-year term, and a 25-year amortization schedule.

James P. Jacovatos, executive vice president of First Central Savings Bank, arranged the financing for these transactions.