Business Services Industry
M. Tuck Capital Associates
Real Estate Weekly, March 15, 2000
M. Tuck Capital Associates announced the successful placements of new first lien mortgages totaling $6.4275 million for four properties.
Michael E. Tuck arranged financing of $4.65 million for a 12-story, 130-unit apartment building in Jamaica, NY. The ten year loan closed at a rate of 7.625 percent. The building had undergone extensive upgrades in the previous two years, including new windows, a new heat plant and extensive elevator upgrades. In another transaction, Tuck procured $950,000 in acquisition financing for a 13-unit walkup apartment building on Sullivan Street in Manhattan. The loan closed at 7.375 percent fixed for the term of the loan.
Brian P. Greenfield arranged acquisition financing of $517,500 for a 20-unit apartment building located on Broadway in Bayonne, NJ. The loan closed with no fee to the regional lender and featured a 30-year amortization Greenfleld also arranged $310,000 in acquisition financing for a 20-unit apartment building located on Park Avenue in Newark, NJ. The loan closed at 8 percent and was arranged with a New Jersey savings bank.
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