425 East 63rd

Anyone?

500 apartments carrying a $100,500 monthly payment on a $20,500,000 underlying mortgage, so there's about $200 for the average apartment.

They're paying off about $13,000 of principal per month, so about $19,000,000 will need to be refinanced in 2013. They'll probably have to pay more than their current 5.125% by then.

NWT, can you elaborate on the second paragraph? Also, where are you getting all this info? Thanks much.

The mortgage consolidation/extension agreement is on ACRIS.

In 2003, last time it came due, they owed about $16,000,000 and added another $4,500,000.

The agreement calls for monthly payments of $100,500. About $87,500 of that is interest, with the rest going to principal reduction.

The remaining principal of about $19,000,000 will come due in 2013. They'll need to refinance then at whatever the going rate is.