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September 2003

100-unit purchase loan in New York state

Gomberg Financial Services of Marblehead, MA is pleased to announce that we have arranged a $2,240,000 purchase loan with a Mortgage Backed Securities Lender.  The 10-year note is amortized over 30 years and has a fixed interest rate of 6.06%.   The purchase price was $2,950,000.

The subject property is the Meadowbrook Apartments, a 1951 vintage multifamily property located in Corning, NY and containing 100 residential dwelling units.

 Meadowbrook Apartments, Corning, NY