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MARCH 21, 2012

HIDROCK SECURES $22.5M REFINANCE

- Real Estate Weekly


Hidrock Realty secured a $22.5 million refinance for 53 West 36th St. Allstate Investments, the original lender, provided the five-year mortgage with a 30-year amortization at a 3.98 percent interest rate.

"We worked closely with the lender and paid off $1 million of the loan ahead of schedule, allowing us to lower our interest rate and bring the loan-to-value ratio below 65 percent," said Abraham Hidary, president of Hidrock Realty.

 

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