Singer and Bassuk Arranges $60.5M Loan for 17 Battery

NEW YORK CITY- Remarking that it was a good sign for Lower Manhattan, Richard Bassuk, president of The Singer and Bassuk Organization, announced the closing of a $60.5 million loan for 17 Battery Place, a 440,000-sf commercial office building located in the financial district across from Battery Park.

“Not only were lenders willing to commit, but there was spirited competition and the lenders were pleased to participate,” Bassuk tells GlobeSt.com.

The $60.5 million first mortgage, which has an interest rate of under 4.6%, was funded by JP Morgan Chase with negotiations led by Steven Schwartz and Brian Baker, together with Patrick Ciriello, Daniel Rood, and Michael Mesard. Evelyn Savino worked closely with Bassuk on the transaction.