$12,500,000 Floating-Rate Financing
Altman Warwick closed a 10-year floating rate loan secured by a 11,000 square foot ground & lower level commercial cooperative unit. Located on the northwest corner of 21st Street and Park Avenue, the building is a 12-story cooperative apartment building with retail space on the first floor and lower-level. The retail/commercial space is occupied by Rothman’s. Rothmans is a third generation men’s clothing destination that has been in business in Union Square for over 30 years. The loan was priced at a very attractive spread of 165 bps over the 10 year swap rate.