Real Estate Journal — January 15 - 28, 2016 — 3A
www.marejournal.com
M id A tlantic
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M id A tlantic R eal E state J ournal On ±2,000 acres in Newton Falls, New York Binswanger brokers sale of 350,000± s/f industrial building
“Ask the Professor”
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In commercial real estate financing, determining how to calculate the monthly mortgage payment is vital. You must know what the loan amount, interest rate, maturity date and amortization period are. Knowing how to input these variables into a financial calculator will provide you with that payment amount and allow you to determine if the property has sufficient cash flow to support the mortgage payments. Take a look at the question below and select the correct answer. mortgage financing. You are offered 2 loans; they both have the same $1,000,000 loan amount, 3% interest rate and 10 year term (maturity date), but different amortization schedules. Loan A has a 25 year amortization period and Loan B has a 30 year amortization period. From your perspective as a borrower, A) The advantage of Loan A is lower monthly payments and a lower ending loan balance due at the maturity date. B) The advantage of Loan B is lower monthly payments and a lower ending loan balance due at the maturity date. C) The advantage of Loan A is lower monthly payments but its disadvantage is a higher ending loan balance due at the maturity date. D) The advantage of Loan B is lower monthly payments but its disadvantage is a higher ending loan balance due at the maturity date. payments than a 25 year amortization period since the mortgage payments run over a longer period of time. Conversely, with a 30 year amortization period, more of those mortgage payments will be credited to interest and less to principal resulting in a higher ending principal loan balance. The correct answer is “D”. Assume you are purchasing a commercial building and require A 30 year amortization period will provide for smaller monthly mortgage
N ewton Falls, NY – On behalf of Newton Falls Fine Paper, LLC, Binswanger announced the sale of a 350,000± s/f produc- tion/warehouse facility on ap- proximately 2,000 acres in St. Lawrence County. The prop- erty is located at 875 County Rd. 60 in Newton Falls. The property was purchased by Abacus Financial for rede- velopment purposes. Abacus Financial is an investment firm specializing in the acqui- sition of value added operat- ing companies and commer- cial real estate. The property is located New York, NY — Tit- leVest , a title company and member of the First American
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875 County Rd. 60
less than three miles from Route 3, in the heart of the Adirondack State Park and surrounded by ±2,000 acres of park-like land with rivers, Oberweger brings to Title- Vest more than 10 years of experience at leading national title insurance companies in the areas of commercial, retail, energy, industrial, hotel, gam- ing, office, multi-family and residential real estate transac- tions. “I am excited to embark on this new chapter with Title- Vest,” said Oberweger. “Tit- leVest’s reputation for stel- lar customer service and the company’s use of cutting-edge
lakes and forests. The transaction was han- dled by Jim Panczykowski , executive VP in Binswanger’s New Haven, CT office. n technology to maximize speed and efficiency aligns with my vision for providing value in today’s marketplace.” “Timothy is extremely well- versed in the complexities of title insurance as they relate to the real estate industry as a whole,” said Brian Tormey, president of TitleVest. “I look forward to working alongside Timothy on new business de- velopment strategy, as well as on enhancing the TitleVest experience for our existing cli- ent base.” n
Business Development Executive Oberweger joins TitleVest ness in NY.
f am i l y o f companies, announced that Timo- thy Ober- weger, Esq. has joined t h e t e a m as manag- ing director
Timothy Oberweger
of business development and counsel. In this role, he will focus on generating title busi-
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Firmly Rooted in the Law and in the Community We are well grounded in every facet of real estate law, from acquisition to construction. We are committed to serving the needs of our clients and our communities.
Ronald M. Shapiro is Assistant Professor of Professional Practice in the Finance and
Economics Department at Rutgers Business School of NewarkandNewBrunswick. He teaches real estate finance. Prior to Rutgers Business School, Ron was SVP with Union Center
Kaplin Stewart
A t t o r ne y s a t L aw
National Bank (now Connect One) and served in executivemanagement positions at Prudential Financial and Wells Fargo.
Contact: Mohammad A. Ghiasuddin • mghiasuddin@kaplaw.com 910 Harvest Drive, Blue Bell, PA 19422-0765 • 610-941-2546 • www.kaplaw. com Visit our Construction Blog: www.pennsylvaniaconstructionlawyer.com
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