Former New York Governor Eliot Spitzer has refinanced his properties, including his main pad in the city, according to public records cited by the Observer.
His family company, Spitzer Enterprises, received a $20 million loan last month from Apple Bank for Savings to refinance the mortgage at 985 Fifth Avenue, which the company owns. Spitzer resides at the 25-story, 47-unit residential building, located between 79th and 80th Streets.
Spitzer was the signatory of the loan the bank provided. The loan has a 10-year term and an interest rate under 3.5 percent, and provided along with another mortgage on another property owned by the family-run company. The second $20 million loan, which followed the same terms, was for 220 East 72nd Street, the newspaper said.
The company also locked in the rate for a $135 million loan on a Washington, D.C., property acquired in 2009, the Observer reported. [NYO] – Mark Maurer