Capital One Loans $91M For 2 NYC Rental Properties

Law360, Minneapolis (February 16, 2017, 4:47 PM EST) -- Capital One NA has loaned $91 million for a pair of Manhattan rental properties, according to records made public in New York on Thursday.

The bank provided a $50 million loan for 350 Central Park West and $41 million in financing for 255 W. 88th St.

The borrower, which used separate LLCs for each deal, is an entity based at 276 Riverside Drive in New York.

The $50 million loan includes roughly $14 million of new financing, while the $41 million loan includes approximately $13.2 million of new capital. The remainder of the $91 million in combined financing is assumption of...

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