City & Suburban Federal Savings Bank

Real Estate Weekly, April 5, 2000

Joseph J. Laquidara, senior vice president and chief mortgage officer of City & Suburban Federal Savings Bank, said the year 2000 is starting off at a good pace for the bank's income property financing.

"At the end of last year our president, Tom Schettino, made some very optimistic comments about our opportunities for 2000 and all I can say is, he was right on target. We closed over $25 million in January and February-$25.470 million to be exact - and we hope to continue our aggressive loan programs for the rest of the year."

Laquidara also supplied the following highlights for the January/February period: $6 million for a nine-story office/retail building at John and William Streets in the Financial District of NYC; 5.25 million for a parking garage facility on East 48th and East 49th Streets in the UN area; $3.2 million for retail/residential/commercial loft buildings at Vestry and East 13th Streets in Tribeca/Greenwich Village; and $2.7 million for a six-story commercial/industrial building at West Side Highway and West 27th Street in Chelsea.

The January/February mortgages, originated by Joe Laquidara and Charlie Persico, were underwritten by Terry McArdle, also a member of the City & Suburban Commercial and Multifamily Lending Division. They were closed by Alan Kisseloff, Esq. of Rosenberg & Estis, P.C. and by Ken Addeo, Esq. of Thacher, Proffitt & Wood, P.C., both representing the bank.