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With the median home price of a single family home in California at $567,690, according to the California Association of Realtors, condominiums have become an increasingly attractive home ownership option for singles, young couples, young families and retired couples as starter homes as opposed to the traditional detached single family home.

Condos are usually located in well established, proven suburban neighborhoods and yet are usually located close to major freeways which provide the homeowner with accessibility to the workplace. Some condos are the same size as houses in regard to square footage, and others have the square footage of comparable apartments. They vary in price range and can be a good starter home for young couples or singles. While the rapid price appreciation in the state, especially in the Los Angeles, California area, has accelerated the price of single family homes, according to a California Association of Realtors report it has also strained the purchasing ability of many young families. Many young couples therefore may often opt for a condominium in a neighborhood with a better school system as opposed to purchasing a single family home in a less desirable neighborhood.

As for retired couples who may just want to downsize and avoid being saddled with the responsibility for exterior lawn maintenance, they usually have the equity and credit rating to buy in more luxurious condominiums in the Diamond Bar, California community for example, where luxurious, 1400 sq. ft, 2 ½ bedroom condos with European kitchens start at $550,000.

Condominiums have proven to be almost as profitable in the last five years as compared to investments in single family detached homes. The rate of appreciation of condominiums and single family detached homes over the last five years has been similar in the communities of Diamond Bar, Walnut, and Rowland Heights, with both exceeding 20% annually. However, as the market has cooled and there has been a price correction in available condominiums, they still are a very good investment.

One thing to keep in mind is that when you buy a condo, you are also buying into the entire building, or common areas, in which your condo is located. As a co-owner of the building, and very often through the property’s homeowner’s association, you will be assessed your proportional share of the cost for repairs required in common areas, such as the roof, heating system, or general exterior maintenance. These costs need to be factored into your overall monthly budget.

Condominiums can be a great investment as they can enable the home buyer the opportunity to live in a much more desirable neighborhood as well as provide the homeowner the tax benefits of homeownership. The sale prices for condominiums generally sell for 20 to 30 percent less than similar detached single family homes. You will have all the amenities of owning your own home, but will be able to share the cost of upkeep on the building, roof, and maintenance. For most buyers priced out of the single family home market, the choice is to buy a condo that meets their living needs, builds equity and improves their credit rating– or continue to rent. The choice seems pretty clear!

All across the United States, including the Mt. Pleasant area, there are a large number of homes. These homes come in all different shapes, sizes, and styles. In fact, not all homes are actually considered homes. There are many residents, including Mt. Pleasant residents, who not only live in a home, but in an apartment, a condo, or even in a hotel. If you are interested in residing in the Mt. Pleasant area, if you don’t already, you will find that you have a number of different options; perhaps, the most popular being a condo.

When it comes to Mt. Pleasant condos, you will find that they are just about everywhere. Condos are popular in and around the area. Although you may not have necessarily thought about it, this is good for you. A large number of condos in the area means more choices for you, if you are looking to move into a condo. With Mt. Pleasant condos, you will likely find that you have a number of different choices. These choices often include renting your living space or actually purchasing it. If you are like most other residents, you would prefer to own your own living space.

If you would like to own your own Mt. Pleasant condo, you will need to find establishments that have spaces available. In a way, this is just like buying a new home. When buying a new home, most homebuyers make the decision to use the assistance of a real estate agent. Although it is not required, it may be a good idea for you to do the same thing. When using the services of a real estate agent, you are likely to have access to a large number of Mt. Pleasant condos. This is because real estate agents tend to get accurate firsthand information from building owners. In fact, many building owners use a real estate to help them find buyers.

Whether or not you use the services of a real estate agent, you will want to take the appropriate amount of time to select a condo space to buy. As previously mentioned, there are a fairly large number of available Mt. Pleasant condos in the area. That means that there is a good chance that there is at least one out there that has exactly what you want and what you need. Since this is likely the case, you are advised against settling for second best. Whether you go searching for Mt. Pleasant condos on your own or with a real estate agent, you are advised to examine a number of properties, before making your final decision. It will help to ensure that you end up purchasing the living space, essentially the home, of your dreams.

Have you heard of a condo or a condominium before? There is a good chance that you have. Condos are properties with a fairly large building. That building tends to have multiple homes or apartments inside of it. With a condo, many property owners have different options for those looking for a place to live. If you are looking for a condo in the Charleston area, you will find that you can either rent a condo or purchase your own living space. Do you know which one you would like to do?

Although you might assume that choosing to rent or buy a condo is a fairly easy choice, it is one that shouldn’t be made on a whim. Where you will be living is a big decision, especially since you may very well spend a good portion of your life there. That is why you will want to take the time to research and examine the advantages and disadvantages of each of your options. Doing so should make it easier for you to decide on a living situation that will be benefit you and anyone else who may be involved.

When it comes to purchasing, Charleston condos, you will find that many are fairly expensive. The cost will all depend on where you are planning on moving to, in the Charleston area. The size of the living space may also have an impact on the price. Some condo living spaces are only a few rooms, while others are whole floors. As you might already assume, the larger to space you want, the more you will have to pay.

Despite the fact that it is fairly expensive to purchase a living space, inside Charleston condos, you will find that it is also expensive to rent a space, over time. With renting, the cost seems low upfront, but overtime that cost can add up. That is why you are always advised to purchase a living space, inside a Charleston condo, instead of renting one. If you have the financial resources needed to make the purchase, you will often find that you end up saving money in the long run.

In addition to saving money, you may also want to purchase a living space inside a Charleston condo because that space will end up being your own. With Charleston condos you will actually own the space within your rooms. With Charleston condos, which have onsite facilities, such as a laundry center, pool, or courtyard, all of the residents share them. When renting a Charleston condo, you will still get to use these facilities, if they exist, but you will not actually be able to call your living space your own. Essentially, this means that, like most other apartments or rental properties, you could be asked to leave at anytime.

The above mentioned advantages and disadvantages, to renting and owning Charleston condos, are just a few of the many that exist. You are urged to take the time to examine each of them and then apply them towards your own personal situation; it is one of the best ways to make a well informed decision.

Luxury and grandeur

That is what living in condominiums is all about. Given the expensive cost of owning a condominium unit, you might as well say that it is ideal for individuals who have a lavish lifestyle and earns a good salary.

A condominium is a complex structure composed of individual units, which are often referred to as ‘condo units’. Unlike apartment-type complexes wherein individual units are for rent, condominiums are leased for sale. These units may be renovated apartments and townhouses or even warehouses previously used for commercial purposes.

Individuals or families who have purchased units in a condominium own everything from the walls of their units inwards. Individual condominium unit owners share rights to common areas inside the premises like elevators, swimming pools, hallways, and clubhouses. The maintenance of these common areas becomes the obligation of the condominium association, which is composed of individual owners. Every owner have their share of interest in the association, adhering them to make monthly due payments or so-called ’special assessment fees’ for huge maintenance problems.

Condominiums provide an alternative lifestyle for many individuals especially those who want to be independent and have their own place that they can call home. Contrary to popular belief, there are condominiums that are affordable. They cost less than paying for conventional home purchases. It is quite cheaper compared to building your own home from ground up. This kind of living quarters is ideal for young professionals as well as small families. In addition, it provides essential amenities such as round-the-clock security and low maintenance (since you own a small portion of the whole condominium).

However, there are certain disadvantages of living in a condominium. There is a lack of privacy in common areas where every homeowner has their respective shares of interest. Condominium arrangements are not the best options for individuals who prefer owning all the amenities and want to maintain their own lawn and garden. In this case, they must pursue single home ownership. Moreover, it is also difficult to sell a condominium unit compared to a conventional home. Remember that you only own the unit and not the ground beneath it.

Despite of the aforementioned disadvantages, there are still individuals who prefer living on condominiums. They do not mind having close neighbors at all and they do not want to be bothered by the responsibility of the lawn or other external maintenance matters. And since the total price of purchasing a condominium unit is relatively lower than an equivalent single-unit home, there are many individuals who are tempted to take this cost-efficient advantage.

Apart from the overall price and amenities available when you decide to live in a condominium, you must be aware of the reality that your stint in your unit may be affected by the condominium association’s decisions. Such decisions may be made in regular meetings that can cost an individual unit owner more money, and is virtually impossible to avoid being affected by at least a single decision. It is encouraged that you actively participate in the association’s meetings and forums. Living in a condominium is financially advantageous than apartment rentals, yet it will require your active participation in community-related events.

Luxury and grandeur? That was living in a condominium before. Today, you have the financial advantage of owning a place you can call home. Just a reminder: be active in the association and cooperate with your co-owners. That will start your wonderful experience living in a condominium.

In 1959 Boston authorities made a tough decision when figuring out what to do with the overflow of traffic moving to, from, and through the city. Their solution was to erect a 6 lane elevated superhighway, one that would slice the city in half. The Central Artery, as it was called, displaced 20,000 residents from their homes, and severed Boston’s Waterfront and the North End from the rest of the city. The ability for these neighborhoods to economically compete in the city’s commerce were cruelly diminished. 25 years later, when the volume of traffic on the Central Artery began creating over 10 hours of congested traffic per day, and as the severed neighborhoods were still harboring their grudges, a solution was planned once again. This time it was called “The Big Dig”.

The Big Dig broke ground in 1991 with a mission to remove the entire Central Artery, replacing it with an 8-10 lane expressway below the surface. It would require huge connector ramps on either side of the tunnel, and as an added bonus, the Ted Williams Tunnel would be constructed to connect Logan Airport in East Boston to South Boston, thus creating an alternate route for travelers approaching from the South and West. When it was all said and done, the Big Dig disrupted 7.8 miles of highway. If each lane of those highways were laid down one after the other, it would stretch out for more then 161 miles. The project is currently in its final stages, 15 years later.

Although the finishing touches still need to be applied, Boston residents are already realizing the effects of the Big Dig. The North End and the Waterfront are once again a part of the city, whereby residents can easily stroll from one neighborhood to the other. The sound of traffic is buried beneath the streets, and the once poisoned property along the Central Artery is busting with construction and realizing a growing volume of commerce. Besides bringing the city back together, the Big Dig is responsible for the creation of more then 260 acres of open land. Where the old artery once stood stretching through the city, a strip of parks, art centers, and recreational facilities are being built. The Rose Kennedy Greenway, as the strip will be termed, is being lined with new hotels, restaurants, shops, galleries, an arboretum within, and several new luxurious condominium residences. Rowes Wharf and the Boston Harbor Hotel have had the pleasure of watching the entire Greenway laid out in front of them. Other condo buildings, either new construction or recent conversions, have recently opened their doors in time to take full advantage of the areas new atmosphere. These include Greenway Place, Folio Boston, Broadluxe, and the Residences at the Intercontinental. There are several residential communities planned for the future, including Russia Wharf, which will position itself should-to-shoulder with The Intercontinental.

The Greenway represents something brand new for a city whose streets and neighborhoods have already fathered so much history. Being a Boston resident affords each individual the ability to observe and contribute to this exciting era. Living along the Greenway and among all its integral surroundings offers a promise of something novel and unique in a city where that is often rare. The Rose Kennedy Greenway will be a hub of anticipation, of activity, of fresh character, and of exhilaration.

Robert brashear, a New York City pastor, rubs his fingers against the 117-year-old walls of his church, and a shower of red dust sprinkles the sidewalk. Above him, scaffolding protects pedestrians from falling 20-pound chunks of sandstone.

Inside, water stains line the walls and cracks trace the barrel-vaulted ceiling of Brashear’s West-Park Presbyterian Church on Manhattan’s Upper West Side. Brashear estimates that repairs would cost at least $10 million.

There are, he says with a sigh, “no resources to cover that kind of expense” in a 100-member church. But like so many other urban pastors, Brashear has seen his financial salvation–and it’s coming out of thin air.

The open space–or air rights–above Brashear’s church will soon be sold for about $15 million to a developer. who will erect a 21-story condominium complex that cantilevers over the back of the church. The new building will include church meeting rooms, 40 low-income housing units and 40 market-rate condos. Once repairs are paid for, Brashear hopes to invest the remaining funds.

From New York to Seattle, downtown congregations are striking deals with developers–deals worth tens of millions of dollars. Those willing to sell are often mainline Protestant congregations saddled with aging buildings, growing deficits and shrinking memberships.

While a red-hot real-estate market has cooled considerably in recent months, industry veterans say the church trend remains strong, especially in revitalized cities where the supply of condominiums and office space has not caught up with demand.

In many large cities, air rights can be bought and sold. A church that doesn’t reach the maximum height allowed by zoning laws can sell the unused space above its roof to a developer, who can transfer that space to an adjacent building. Such churches can make millions off a “vertical asset” that would otherwise go unused.

The result is unexpected “manna from heaven” for some churches, said M. Myers Mermel, a real estate broker and member of Christ Church United Methodist in New York, which negotiated a $30 million air rights deal in November.

While proceeds have replenished bank accounts, expanded social outreach and breathed new life into aging sacred space, the high-stakes transactions can be risky for clergy and congregations unprepared for the cutthroat world of real-estate development.

In places like New York, Chicago and Washington, where the only place to go is up, low-rise churches are attractive targets. Increasingly, developers are willing to pay top dollar not just for land, but also for the air above a church’s roof.

“The cities with the hottest real-estate markets and [sale of air rights] will be the places where the phenomenon sticks out the most,” said Richard Peiser, professor of real-estate development at Harvard’s Graduate School of Design.

Consider a few examples of churches striking real-estate gold:

* In Chicago, a 60-story condo tower will rise above St. James Episcopal Cathedral in the heart of the city’s Magnificent Mile area. St. James will sign a 120-year lease on its land in a deal worth at least $10 million. Fourth Presbyterian Church in Chicago has explored a similar venture, though approval by the city is uncertain. “In an urban area, air rights are just as much an asset as a piece of property,” said John M. Buchanan, pastor of the 5,400-member Fourth Presbyterian and editor-publisher of the Christian Century.

* In the shadow of New York’s Empire State Building, the quaint Episcopal Church of the Transfiguration razed its parish house and sold its air rights for a 55-story luxury condo building that will net about $7 million for the congregation. Uptown, the Episcopal Cathedral of St. John the Divine is planning two education and residential projects that the New York Times estimated will generate at least $40 million over the next 20 years.

* In Seattle, the terra-cotta domed roof of First United Methodist Church will soon make way for a highrise office tower. Church officials say they can’t maintain the 1910 building and would prefer to spend money on outreach to the homeless. The Seattle Times estimated the deal is worth about $30 million.

* In Washington, the city’s insatiable housing market prompted St. Luke’s United Methodist Church to sell part of its land to a developer who built condos that sell for up to $2 million each. The church made about $6 million on the deal, said pastor David Myers; it now plans to fund a homeless shelter and feeding program. Without the infusion of cash, Myers said, his small congregation probably would have closed its doors.

Traces of the trend can be found in smaller cities as well. In Sarasota, Florida, First United Methodist Church was offered $17 million for its downtown property that abuts a new residential/retail complex. The church, however, turned down the deal after “sentimentality ruled the day,” said copastor Art McClellan.

A partnership between the Canyon-Johnson Urban Funds and The Dermot Company has purchased the Williamsburg Savings Bank Building and plans to renovate and convert the landmark 35-story tower into condominiums and ground-floor retail space.

The project, called One Hanson Place, will continue the ongoing revitalization of Downtown Brooklyn into a 24-hour urban community.

Purchased from HSBC, Brooklyn’s tallest building has been a feature of the borough’s skyline and the Fort Greene neighborhood since 1927.

It is adjacent to Atlantic Terminal, New York City’s third-largest mass transportation hub, and near such amenities as MetroTech Center, the Brooklyn Museum of Art, the Brooklyn Academy of Music and the proposed arena for the NBA’s New Jersey Nets.

A copper dome and one of the world’s largest four-sided clock towers adorn the historical landmark building, which offers unobstructed views of Manhattan and all of Brooklyn.

One Hanson Place is the first investment for Canyon-Johnson Urban Fund II, a $600 million closed-end real estate fund managed by a partnership between Canyon Capital Realty Advisors LLC and Earvin “Magic” Johnson’s Johnson Development Corporation, both based in the Los Angeles area. One Hanson Place is Canyon-Johnson’s second Brooklyn project; CJUF I is an investor in Park Place, a mixed-use development of condos, retail and parking currently under construction in the borough’s Park Slope neighborhood.

“We couldn’t have found a better project or partner to launch Canyon-Johnson’s second urban fund,” said CJUF Managing Partner Bobby Turner.

“One Hanson Place will help meet the tremendous demand for market-rate housing and community-serving retail while maintaining the historical integrity of this celebrated landmark building. Moreover, Dermot’s extensive track record and commitment to urban development will ensure the success of this great project.”

Earvin “Magic” Johnson added, “We are believers in Brooklyn as a place that is economically growing, healthy, entertaining and the place to be. By bringing high-quality residential and retail components together, One Hanson will bring about even further revitalization to the already vibrant Brooklyn community.”

Canyon-Johnson’s partner, The Dermot Company, has developed more than 4,000 multi-family units over the past 13 years.

“One Hanson is a prime example of the type of urban infill development that The Dermot Company is trying to promote,” said William Dickey, President of Dermot.

“We are proud to unite with the Canyon-Johnson Urban Fund in this exciting venture, and we are excited to find a capital partner that shares our vision and commitment: that our project can contribute greatly to the neighborhood growth and business development in downtown Brooklyn. The people and process at Canyon truly define a value added partnership.”

The New York City Employee Retirement Funds are among the investors in Canyon-Johnson Urban Fund II and, thus, One Hanson Place. New York City Comptroller William C. Thompson, Jr. said, “One Hanson epitomizes the double-bottom-line agenda we have set forth for the City’s retirement funds: to do good for the people of New York and to do well financially for the City’s pension plans.”"

Financing for the project was provided by Citibank’s Community Development Group. “We are pleased to be both an equity investor in Canyon-Johnson Urban Funds and the construction lender for One Hanson Place. Dermot Company and Canyon-Johnson are terrific partners with strong track records of successful large-scale urban developments,” said Andrew Ditton, Director of Citibank Community Development.

The architect for the renovation is H. Thomas O’Hara, a New York-based firm specializing in high-rise residential/mixed-use buildings and conversions of existing buildings. Kajima Construction Services Inc., the fourth largest contractor in the world, is managing preconstruction work.

Parsons Brinckerhoff has been named program manager for the development of Port Gardner Wharf, a residential, office and retail complex being built on 65 waterfront acres in Everett, Wash.

Port Gardner Wharf is a public-private venture of the Maritime Trust Co. and the Port of Everett. The project’s buildable area will range from 1.2 to 1.6 million s/f. The first phase of development will entail approximately 200 condominiums, town homes and retail spaces. Subsequent phases call for 660 high-end residential units, retail and professional office space, an inn, restaurant, and marina sales and service facilities.

Under a separate project, the Port of Everett is building a 234-slip marina on the north side of the site. The marina will be completed in 2006, preceding the completion of the first phase of Port Gardner Wharf, currently scheduled for completion in mid-2007. The entire development is expected to be completed between 2012 and 2015.

As program manager, PB will administer the overall project and manage the project team, including the design consultants and construction contractors.

Founded in 1885, Parsons Brinckerhoff provides program management, planning, engineering, and construction management services for transportation, power, buildings, and environmental projects. PB employs 9,000 professionals and support staff in more than 150 offices worldwide.

With the interest rates at a 40-year low, some businesses are starting to consider buying their offices instead of leasing them.

According to several brokers, commercial condominiums are gaining in popularity and new developments are popping up in trendy neighborhoods around the city.

According to Roxanne Betesh, a broker with Sinvin Realty whose company has closed at least five condominium sales since the beginning of the year, small and medium-sized firms feel that property purchases are a good investment.

“These companies are taking advantage of the fact that interest rates are very low–they are securing money, they see it as something much more [productive] for their company,” Betesh said. “There is, I think, a very strong market of people who want to buy their own space. A lot of people in the residential market are buying for investment, and a lot of people in business are doing it.”

“When a company has reached a size where they are comfortable with their business model and they don’t plan on moving, ownership becomes preferable to leasing,” said Jonata Dayan, of Winoker Realty.

Dayan, who has closed several condominium sales in the past few months, including a 33,000 s/f transaction at 12 W. 32nd St. and a 46,000 s/f one at 146 W. 29th St., thinks the wild fluctuations in the commercial rental market may be responsible for the condominiums’ increasing popularity.

“It’s hard to say why something happens, but it probably has to do with just the fluctuations of rents being so radical,” she said. “Right now, rents are low, but they are starting to climb again. In the last couple of years, the space that was $40 per s/f went to $20 per s/f and is now $30 per s/f. So, I think it’s just the insecurity of their position in the building–is the building going to be sold, are the rents going up? [With a condominium], they know what they’ve gotten themselves into, this is their place for the foreseeable amount of time.”

To deal with increased demand, Winoker Realty has opened up a new commercial co-op and condo division, of which Dayan is in charge. The firm says that, in the past two years, demand for commercial office space purchases increased by 30%.

Not everyone, however, thinks that buying coops and condominiums is such a hot trend. James De Luca, senior director with Cushman & Wakefield, handles condominium sales from time to time, but he says he hasn’t noticed an upsurge in the recent past.

“Most of the time, the entities that find it very attractive to purchase commercial condos are nonprofit groups,” he explained. “This way, they become tax-exempt and that’s a real benefit for them because they are saving more than $8 per s/f per year. There are several commercial condominium buildings [in the city] like 633 Third Ave. and 3 Dag Hammarskjold Plaza.”

But private entities that might have any plans for expansion tend to shy away from commercial purchases because they are too permanent.

“You are locking a company in; it doesn’t give it the flexibility to grow or expand or contract,” De Luca said. “Companies feel grid-locked into their space, so I don’t see a big trend of corporate America buying commercial office space.”

Other problems De Luca notes are a lack of funds to buy a co-op or a condominium and the limited supply of properties for sale in New York.

“There are very few buildings in the city that are commercial condos. I just sold a building on 59th Street and a lot of non-profit companies looked at it, but none of them would step up to the plate,” he said. “They couldn’t raise the money to purchase.”

According to Dayan, commercial co-operatives might be a little more affordable because their closing costs are lower, but tenants are more wary because they tend to associate them with a common problem of residential co-ops–impossible boards.

“A lot of people have had previous ownership experience with residential property and feel more comfortable with a commercial condominium. It’s easier to re-sell, ” she explained. “But after looking around, they’ll find that commercial co-ops are less restrictive than residential. Most of the time, what they are looking for is finances and a legal use. The boards are not as quirky as in residential co-ops. And commercial co-ops are normally one tenant per floor, so you are dealing with 12 owners as opposed to 120 owners.”

Still, if commercial condominium developments are hard to rind in Manhattan, commercial co-ops are almost impossible to come by.

“I don’t know one commercial co-op in New York, except for the Time Warner Center at Columbus Circle, which is a very unique property,” said De Luca.

National Cooperative Bank (NCB), the nation’s leading provider of financing to housing cooperatives and condominiums, originated through its subsidiary, NCB, FSB, $62.0 million in financing during April for 21 New York area properties.

The financings included $44.2 million in first mortgages, plus $17.8 million in second mortgages and lines of credit. Edward Howe III, Managing Director of the NCB New York office, made the announcement.

“Financing activity through April continued to demonstrate that cooperative and condominium boards are pursuing needed financing by taking advantage of their increasing property values in a low-interest rate lending environment,” commented Mr. Howe.

“This trend is evidenced by the steady rise in NCB’s total monthly financing while the number of borrowers has remained fairly constant.”

In April, three additional condominiums took advantage of the Amendment to the New York Condominium Act, allowing condominium associations to finance capital improvement projects and repairs.

NCB Senior Vice President Sheldon Gartenstein originated a $3.l million first mortgage and a $1.0 million line of credit for an 88-unit condominium located at 233 East 70th St. in Manhattan; a $2.2 million first mortgage and a $1.0 line of credit for a 111-unit condominium located at 319 East 50th St. in Manhattan; and a $2.5 million line of credit for a 50unit condominium located at 260 West Broadway in Manhattan.

Mr. Gartenstein also originated over $47 million in co-op loans during April including the Bank’s largest loan of the month, an $11.0 million first mortgage and a $3.0 million line of credit for a 275-unit co-op located at 10 West 66th St. in Manhattan.

NCB Senior Vice President Mindy Goldstein originated nearly $3 million for area cooperatives including a $900,000 first mortgage for a 16-unit co-op located at 2 Jane Street in Manhattan; an $800,000 first mortgage and a $250,000 line of credit for a 40-unit co-op located at 166 West 76th St. in Manhattan; a $550,000 line of credit for a 21-unit co-op located at 310 Windsor Place in Brooklyn; and a $230,000 first mortgage for a 10-unit co-op located at 102 Bedford St. in Manhattan.

Mr. Howe arranged more than $12 million in loans for area cooperatives including a $4.5 million first mortgage and a $2.0 million line of credit for a 106-unit co-op located at 65 Central Park West in Manhattan; a $4.0 million first mortgage and a $500,000 line of credit for the Gateway, a 104-unit co-op located at 60 Gateway Road in Yonkers a $2.8 million first mortgage and a $500,000 line of credit for the Breukelen, a 127-unit co-op located at 57 Montague St. in Brooklyn.