Business Services Industry
Harvey P. Katz Associates
Real Estate Weekly, March 15, 2000
Daniel J. Cunningham of Harvey P. Katz Associates recently placed underlying mortgages for several rental buildings, including a $700,000 first mortgage on 2546-2548 Seventh Avenue, New York City. The building is a five-story walk-up apartment building containing 18 apartments and two stores. The new mortgage is at a 8.25 percent fixed interest rate for 10 years.
This was in addition to a $1 million first mortgage on 338-340 East 22nd Street, also in New York City. The improvements consist of two five-story walk-up apartment buildings containing 40 apartments and one basement commercial space.
The new mortgage is at a 7.25 percent fixed rate for 10 years.
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