New York Mortgage to provide financing for buyers at East Side luxury condos

Real Estate Weekly, July 18, 2001

The New York Mortgage Company, LLC will provide financing to buyers of luxury residences at The Beekman Regent, ,a new condominium development on Manhattan's East Side, according to Steven Schnall, president, and Joseph Fierro, chief operating officer.

The New York Mortgage Company, which closed on nearly $1 billion of residential and commercial mortgages in 2000, is one of the tri-state region's fastest growing and largest mortgage banking firms.

The 19-story Beekman Regent, at 351 East 51st Street, rises above the recently restored facade of a turn-of-the-century schoolhouse. The development comprises 64 luxury residences, ranging in size from 880 to 4,473 square feet. Prices range from $820,000 to $11 million.

The residences will be available for occupancy in the fall of this year. The Marketing Directors, Inc. is the exclusive sales and marketing consultants.

"We're proud to be associated with this beautiful new development, and are happy to collaborate with developer Dennis Herman in this very important phase of the project," says Mr. Schnall.

The units include ten lofts, five duplex townhouses and a one-bedroom simplex, several apartments with one, two, or three bedrooms, and 18 super luxury penthouses that feature outdoor terraces and/or private balconies.