Originally constructed as a mixed-use rental property in 1985, the building at 124 West 60th St. features 498 residential apartment units and more than 100,000 sf of medical office space. That space is currently leased to St. Luke-Roosevelt Hospital and its affiliates.
APF, which is affiliated with Emigrant Savings Bank, provided the complex financing through Freddie Mac utilizing a bifurcated structure with an $80-million fixed-rate component; and an additional $15-million adjustable rate loan component. The Freddie transaction had an early-rate lock.
The full-service South Park Tower features an on-site management office, superintendent's unit, 125-space heated indoor parking garage, valet service and laundry room.
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