NY Mortgage Co. preferred lender for Tower 270

Real Estate Weekly, March 20, 2002

The New York Mortgage Company, LLC has been designated the preferred lender for buyers at Tower 270, a new condominium and rental development at 270 Broadway near City Hall, according to Steven Schnall, president.

The New York Mortgage Company, which closed on more than $1 billion of residential and commercial mortgages in 2001, is one of the tri-state region's fastest growing and largest mortgage banking firms.

Tower 270 has 39 condominiums for sale, ranging in size from 1,800 to 8,100 SF. Units range in price from $1.1 million to $10.5 million, and should be ready for occupancy by late spring or early summer.

"Even though the apartments went on the market only about a month ago, 11 have already gone to contract, several of which have been financed by NYMC," says Schnall. "That's a positive, and a very promising sign for downtown residential real estate."