REBusinessOnline

PNC ARCS ARRANGES $2.1 MILLION MULTIFAMILY LOAN

NEW YORK CITY — Calabasas Hills, Calif.-based PNC ARCS has arranged a $2.1 million loan for Central Park South Apartments, a 21-story, Class A apartment building located in New York City. The property contains 37 owner-occupied units and a ground-floor commercial unit. Terms of the loan include a 5.82 percent fixed interest rate and a 10-year term with interest-only payments. The loan was secured on behalf of the borrower by the Princeton, N.J., office of PNC through Fannie Mae.

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