Alex Hurwitz of Larew Doyle & Associates arranges a permanent loan for 2352 Walton Avenue  Bronx, NY

Written By Cara Patten

This loan was a 24-month forward commitment permanent loan for LD&A’s client to purchase a completed NYC DHS shelter facility. The financing was negotiated in 2021 with a locked rate of 4.67% (inclusive of a forward premium) and closed in 2023 along with the property acquisition. In 2023 this interest rate was well below market. It is a 30-year self-liquidating senior mortgage. 

The asset is a 12-story family shelter with 61 residential units intended for families with children in need of assistance. The sponsor is a repeat client of LD&A’s.

Cara Patten
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Alan Doyle of Larew Doyle & Associates arranges $6.2MM in fixed rate financing for the acquisition of 146 South Main Street in Milford, Mass.