White Plains, NY – Jeanne Cronin, Managing Director of Q10 | New York Realty Advisors, LLC, is pleased to announce the closing of a $1,335,000 acquisition loan secured by a first mortgage on a rental apartment building located on East 84th Street on the Upper East Side of Manhattan. The 5-story walk-up building was built at the turn of the century. It contains 8 residential units including a large duplex unit with direct access to a ground level garden.

The loan was placed with a local bank. As per Cronin, “The borrower’s investment horizon is long term and, as such, they sought a long-term fixed-rate loan. They did not want a loan in which the rate was reset after a period of time. The rate on the subject loan was locked for the full 15-year loan term at 6-1/4 %.” The Borrower was represented by Rubin Ferziger, Esq. and the lender was represented by the law firm Masone White Penkava & Cristofari.

Q10 | New York Realty Advisors, LLC is a member of Q10 Capital, LLC a leading commercial mortgage banking and investment sales company with 29 offices nationwide. Q10 has the resources and expertise to successfully provide debt and equity solutions to all types of real estate transactions regardless of property type, size, location and complexity. Out clients are given access to a wide variety of lending sources and a full range of financing products through our established relationships with local and national lending sources. The combined offices of Q10 Capital originated in excess of $17 Billion of commercial mortgage loans over the past three years and currently service over $20 Billion in loans for our correspondent lenders.

For more information please contact Jeanne Cronin of Q10 | New York Realty Advisors at 914-641-4383 or visit our website at www.q10capital.com.