Imperial Capital handles three New York City transactions

According to Imperial Capital Co., it has completed a commercial leasehold first mortgage loan on a property located at 1381 Sixth Ave. (the entire block front on the west side of Sixth Ave. between 56th St. and 57th St.). The loan was arranged by Andy Nemeroff, principal of Imperial Capital and his son, Stephen Nemeroff, also a principal. The loan was for an undisclosed sum, but for a term of ten years, with a fixed rate of interest and fully non-recourse. The borrowers are a partnership comprised of Alex Adjmi and Robert Cayre. The loan was placed with a local savings and loan. The property is anchored by a Duane Reade store and benefits from an extremely strong retail location in midtown. Imperial has also completed a commercial leasehold first mortgage loan on the property located at 591-593 Broadway. The loan was arranged by Andy Nemeroff and Stephen Nemeroff. The loan was for an undisclosed sum, but for a term of ten years, with a fixed rate of interest and fully non-recourse. The borrowers are a partnership of Adjmi and Cayre. The loan was placed with a local savings and loan. The property is completely leased to a brand new Victoria's Secret Store, in the heart of Soho. Imperial also arranged the sale of a property located at 123 West 15th St., in the Chelsea neighborhood. This bank-owned transaction was between a local lender and Soho Builders LLC, formed by Kenny Hart and Adjmi. Imperial represented the seller and the purchaser on this transaction. The project was a stalled development site totally 8,250 buildable s/f.