GlobeSt.com EXCLUSIVE: 1,500-Unit Apartment Complex Closes on $55M Refi

NEW YORK CITY-The Lightstone Group refinances a Bronx apartment complex to the tune of $55 million. Financing for the 1,500-unit Eastchester Garden Apartments was provided by New York Community Bank.

By Glen Thompson | December 05, 2002 at 01:01 AM

The apartment complex will undergo a $10-million capital improvement program including upgrades to the electrical service, windows, plumbing, brickwork and facades, interior steel stairs, entrance doors, concrete walkways, landscaping, roofs and compactors. The remaining funds will be used to pare down exisitng debt.

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