National Cooperative Bank

Real Estate Weekly, Feb 9, 2000

National Cooperative Bank (NCB), one of the largest originators of underlying mortgages for cooperative housing corporations, arranged $3.9 million in financing for seven New York area co-ops in November. The financings included $2.7 million in first mortgages and $1.2 million in second mortgages. The announcement was made by Edward Howe III, managing director of the firm's New York office.

Paulette Bonanno, NCB's vice president and loan officer, arranged the largest transaction in November, a $1.3 million first mortgage for the 96-unit co-op located at 300 Martine Avenue in White Plains, NY.

Bonanno also originated a $650,000 first mortgage for the seven-unit co-op located at 17 Thompson Street in Manhattan; a $600,000 fist mortgage for the 37-unit co-op located at 124 East 84th Street in Manhattan; and a $500,000 second mortgage for the 183-unit co-op located at 245 East 25th Street in Manhattan.

In addition, NCB Assistant Vice President and Loan Officer Mindy Goldstein arranged a $600,000 second mortgage for the five-unit co-op located at 328 Clinton Avenue in Brooklyn, NY; a $150,000 first mortgage for the eight-unit co-op located at 166 West 94th Street in Manhattan; and a $100,000 second mortgage for the eight-unit co-op located at 39 East 19th Street in Manhattan.