American International Group provided a $40 million mortgage to Brooklyn-based LargaVista Companies for the fee simple interest in a development site on Lafayette Street in Soho, Mortgage Observer has learned.
The 20-year, fixed-rate loan was brokered by an HFF team led by Senior Managing Director Michael Tepedino and Managing Director Michael Gigliotti. HFF will also service the loan, according to the firm. The broker and borrower declined to name the lender. Read More