(Read more on the debt and equitymarkets.)
NEW YORK CITY-The Singer & Bassuk Organization closed a $105million permanent loan for Harlem USA, a retail and entertainmentcomplex on 125th Street between Frederick Douglass Boulevard andSt. Nicholas Avenue. The five-level project is about 285,000 grosssf.
SBO arranged the permanent financing with Hypo Real EstateCapital Corp. for HUSA Management Co. LLC, an affiliate of GothamOrganization Inc. and Grid Properties Inc. The Hypo loan was usedto refinance an existing $53.8 million securitized permanent loanwhich was defeased as part of the transaction.
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