272, 274 and 276 West 86th Street,
Upper West Side of New York, NY
Upper West Side of New York, NY
New York, NY, April 19, 2013 - PCCP, LLC announced today it
has provided a senior loan to an affiliate of East River Partners, LLC for the
acquisition and renovation of three multifamily buildings.
 |
| John Randall |
The buildings total approximately 21,500 square feet and are
located in the Upper West Side of New York, NY at 272, 274 and 276 West 86th
Street.
“East River Partners is an experienced real estate
investment and development firm focused on purchasing existing buildings in New
York City and rehabbing them into rental or condominium homes,” said John
Randall, senior vice president with PCCP, LLC out of the firm’s New York
City office.
“The opportunity is
a good match with our lending appetite, and this loan represents a favorable
basis for PCCP in the highly desirable Upper West Side where there is a scarce
amount of newer housing product.”
The property consists of three architecturally attractive,
contiguous mid‐block buildings built in 1909. The buildings are situated
between Broadway and West End Avenue on the south side of the two‐way West 86th
Street. Two of the three buildings are currently vacant and the third building
has minimal occupancy.
Morrison
& Foerster LLP represented PCCP, LLC.
Cooper-Horowitz arranged the financing.
For a complete copy
of the company’s news release, please contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
No comments:
Post a Comment