NY Community Bank Loans $128M For Manhattan Property

Law360 (December 9, 2020, 4:57 PM EST) -- New York Community Bank has loaned roughly $127.6 million for an apartment complex on Billionaires Row in Manhattan, according to records made public in New York on Wednesday.

The financing is for Park Towers South at 315 W. 57th St., which is a block southwest of Central Park and close to the 59th Street-Columbus Circle subway station.

The loan is a refinancing of pre-existing debt at the property and is not subject to mortgage recording tax, and the borrower is an entity affiliated with New Rochelle, New York-based Pelican Management, according to public records. Goldfarb Properties also lists the property on...

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