Deal News / Articles sub title
Managing Director of Finance & Capital Markets, Michael Korine, along with President Joe Berko, have procured $16.75mm financing for the conversion of an 81,000 SF ex-Paper Factory into a hotel in the growing Long Island City market. The developer plans to convert the asset in to a luxurious hotel with amenities such as a restaurant,
Berko & Associates has negotiated the sale of 11 East 17th St., an elevator loft building in the Flatiron District for a $9.7 million. The asset is a seven-story mixed-use building with floor-through lofts and a retail store on the ground level, leased out to Hale & Hearty. The building contains 20,000 s/f. “My client
Joe Berko and Emily Lau of Berko & Associates, have obtained Mezzanine Financing for the recently reconstructed office building located in Chelsea at 127 West 25th Street. Amid sluggish transactions and stringent guidelines by the banking industry, the duo was able to put the pieces together and obtain $9 million. Lau stated that “This was
Joe Berko, President, and Steve Geller, a Senior Associate at Berko and Associates represented the buyer for the transaction at 6 West 107th Street on the Upper West side just steps from Central Park. The property was a 21-unit elevator building meticulously maintained by the seller, Stonehenge Partners. The Texas-based investor group saw the immediate
Agustin Pena, Director, represented the seller of this 5-story, 10k+ SF walk-up in Midtown West. The property contained 15 large residential units and one ground level retail space and maintains full occupancy. Agustin Peña represented the buyers in this transaction, who liked this deal because of the immediate upside in the free market rents. He
Alan Simonowitz, Senior Finance Associate, has completed the financing of 440 Madison Street, a multi-unit townhome in the popular Bed-Stuy neighborhood of Brooklyn. The property was in need of minor repairs in order to stabilize the asset. The mortgage carries an interest rate of 3.35% for 5 years with a 30 year amortization.
The Finance & Capital Markets team comprised of Michael Korine, Andrew Milbank, and Jonathan Lavian, has arranged a $1.3 million bridge facility for a landmarked 3 unit brownstone in Brooklyn Heights. The loan, which was closed within 2 weeks, was used to refinance the existing mortgage and allow for minor planned renovations on the property.
Michael Korine, Managing Director of the Finance & Capital Markets Group at Berko & Associates, successfully procured permanent financing for two adjacent buildings in Central Harlem. The properties, 440-446 St. Nicholas Ave, total 29,000 SF and contain 40 residential units with numerous upgrades to the mechanicals and common areas. The Capital Markets Group sourced conventional
Joe Berko, Founder and President, and Steve Geller, Director of Investment Sales, at Berko & Associates, have successfully negotiated the sale of a four building package in the Fort George neighborhood of Washington Heights. Geller said, “The properties had been for sale for a long time so the market finally moved up closer to his
Futures for U.S. markets were lower late Monday after investors pushed all three major U.S. indices to fresh records during regular trading amid a dearth of bad news. Futures for Nasdaq were off 0.09%, while the S&P 500 trimmed 0.1% and the Dow Jones Industrials 0.09% at 10:06 p.m. EDT. U.S. indices closed at renewed