NorthEast Community Bank (NECB) had a year end total of loan originations of over $130 million throughout the states of N.Y., N.J., Conn., Penn., Mass., N.H. and R.I. NECB continued to provide financing on multi-family properties even in the last quarter of 2008. Some recent note-worthy loans are as follows:
Dan Berke, vice president and loan officer of NECB, along with Jack Coopersmith and Ester Krasne of Eastern Union Commercial Real Estate Finance, who represented the borrower, arranged for a permanent mortgage in the amount of $1.5 million for a 4-story elevator apartment building on North 12th St. in Philadelphia, Penn.
George Gaudet, vice president and loan officer of NECB, arranged for a permanent mortgage in the amount of $326,250 for a 6-unit apartment complex consisting of 4 buildings on one lot located on H St. in Hampton, N.H.
Susan Barile, executive vice president and chief mortgage officer of NECB and Stephanie Melowsky, assistant vice-president and commercial underwriter along with Michael Edery of Paradigm Funding, who represented the borrower arranged for a permanent mortgage in the amount of $2.29 million for a 5-story walk-up apartment building on West 48th Street in New York, N.Y.
Terence McArdle, vice president and loan officer of NECB, along with Jacob Rochlitz of Meridian Capital, who represented the borrower arranged for a permanent mortgage in the amount of $1.4 million for a 3-story walk-up apartment building on Boerum St. in Brooklyn, N.Y.
Terence McArdle along with Yoel Garber of ILM Capital, arranged for a permanent mortgage in the amount of $2.85 million for a 9-story elevator apartment building on Prospect St. in Waterbury, Conn.