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Transactions: Dansker’s $950,000 loan in Brooklyn, Meridian’s $7M financing in Astoria

Meridian Capital announced the following transactions:

  • $7 million in permanent financing for the purchase of a warehouse in Astoria, Queens. The one-year acquisition loan, provided by a local balance sheet lender, features full-term interest-only payments. This transaction was negotiated by Bryan Geffen and Brian Flax. The single-story, 10,000 s/f is located at 19-79 Steinway Street in Astoria.
  • A new mortgage for $5,700,000 on a 254-unit multifamily property located on Chester Avenue in Philadelphia, PA. The loan features a rate of 3.05% and a seven-year term. Max Beyderman and Michael Salamon negotiated this transaction.
  • New mortgages totaling $25,725,000 on four multifamily properties comprised of 198 units located on Davidson Avenue, Woodycrest Avenue, Creston Avenue and Buchanan Place in the Bronx, NY. The loans feature rates of 3.25% and five-year terms. These transactions were negotiated by Drew Anderman and David Bollag.
  • A new mortgage in the amount of $6,200,000 on a 124-unit multifamily property located on Poplar Street in Sharon Hill, PA. The loan features a rate of 3.45% and a seven-year term. Russ Drebin negotiated this transaction.
  • New mortgages totaling $3,850,000 were placed on two multifamily properties comprised of 30 units located on Bryant and Selwyn Avenues in the Bronx, NY. The loans feature rates of 3.125% and five-year terms. These transactions were negotiated by Alan Friedman and Eric Chapek.
  • A new mortgage in the amount of $3,000,000 on a four-story, 12-unit multifamily property located on York Avenue in New York, NY. The loan features a rate of 3.13% and a five-year term. Carol Shelby and Dani Sabesan negotiated this transaction.
  • A new mortgage of $2,660,000 on an office property located on North Main Street in Mullica Hill, NJ. The loan features a rate of 3.12% and a three-year term. This transaction was negotiated by Jacob Rochlitz and Joseph Akerman.

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Dansker Realty Capital LLC has provided a bridge loan in the amount of $950,000 for the acquisition of a mixed use property on Central Avenue in Brooklyn, New York. The transaction was arranged by Lowell Dansker, principal.

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Emerald Creek Capital LLC provided 2 loans totaling $14,900,000 for the following transactions:

  • A $12,000,000 acquisition loan in Washington, PA. The loan is secured by 533,015 s/f of retail space located within a 673,100 s/f regional shopping mall situated on a 94-acre land parcel. Anchored by Bon-Ton, Gander Mountain, Sears, Ross, Marshalls, and Jo-Ann Fabrics, the subject property is 93% occupied. The loan was originated by Jeff Seidler.
  • A $2,900,000 bridge loan in Brooklyn, NY. The subject property is a 2,700 s/f townhouse located in the Cobble Hill neighborhood. The borrower is redeveloping the property which, when completed, will result in a four-story condominium building comprised of three units totaling 4,998 s/f. The loan was originated by Jeff Seidler.

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Eastern Union Funding announced the following transactions:

  • A $9,825,000 first lien mortgage for the refinance of a 60-unit multifamily on Mott Ave. in Far Rockaway, NY. This transaction was arranged by Motti Blau.
  • An $8,000,000 first lien mortgage for the refinance of two contiguous mixed-use properties (13 units total) on Kent Ave. in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
  • A $5,975,000 first lien mortgage for the acquisition of a 476-unit multifamily on W. Chicago Street in Detroit, MI. This transaction was arranged by Simcha Margolis.
  • A $2,975,000 first lien mortgage for the refinance of two contiguous multifamily properties on 42nd Ave. in Corona. This transaction was arranged by Uri Shoshana and Motti Blau.
  • A $2,600,000 first lien mortgage for the refinance of an 11-unit multifamily on W. 15th Street in Brooklyn, NY. This transaction was arranged by Alex Freund.
  • A $2,600,000 first lien mortgage for the refinance of two contiguous mixed-use properties (16 units total) on 5th Ave. in Brooklyn. This transaction was arranged by Jeffrey Seidenfeld.
  • A $2,500,000 first lien mortgage for the refinance of a retail property on Church Ave. in Brooklyn. This transaction was arranged by Jack Beida.
  • A $2,450,000 first lien mortgage for the refinance of a 6-unit multifamily on Melrose St. in Brooklyn. This transaction was arranged by Nate Hyman and David Metzger.
  • A $2,212,500 first lien mortgage for the acquisition of an 85,323-square-foot retail center in Gadsden, AL. This transaction was arranged by Barry Dollman, Shair Romirowsky and Marc Tropp.
  • A $2,100,000 first lien mortgage for the refinance of an 8-unit multifamily on Throop Ave. in Brooklyn, NY. This transaction was arranged by Nate Hyman and David Metzger.
  • A $1,700,000 first lien mortgage for the refinance of a 5-unit mixed use on Bushwick Ave. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
  • A $1,650,000 first lien mortgage for the acquisition of a 22-unit multifamily portfolio in Jersey City, NJ. This transaction was arranged by Jay Tyberg and Moti Amsel.

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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $15,400,000 for the following properties:

  • $4,100,000 for a two-story mixed-use building containing seven ground floor retail units and four offices, located on Utica Avenue in Brooklyn, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $3,425,000 for a five-story apartment building containing 30 units, located on Taylor Avenue in the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
  • $3,200,000 for a newly developed, one-story commercial building comprised of 10,250 square feet, located on Springfield Boulevard in Queens, New York. Paul Greenbaum arranged the financing.
  • $3,000,000 for a four-story apartment building containing four units, located on State Street in Brooklyn, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
  • $1,675,000 for a one-story, single tenant commercial building comprised of 2,150 square feet, located in East Brunswick, New Jersey. Mathew Classi, Managing Member, arranged the financing.

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Hirshmark Capital LLC, through an affiliate entity, closed the following recent transactions:

  • A $2.7 million bridge loan secured by a roughly 19,000 s/f five-story elevator building with eight residential units and two commercial units in TriBeCa. Jake Soodek negotiated this transaction.
  • A $3.2 million bridge loan secured by four properties in Bedford-Stuyvesant and East Flatbush, Brooklyn. The properties feature a mix of residential and commercial units as well as a stand-alone C-Town Supermarket, totaling roughly 16,200 s/f. The borrower is a professional real estate owner and operator. Igor Vaysberg negotiated this transaction.

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Jeanne Cronin and Zeev Douek of Q10 New York Realty Advisors, an affiliate of Houlihan Parnes Realtors, LLC, have arranged a $7,500,000 permanent loan on a full service hotel currently operating under the Best Western flag. The property is located on Sunrise Highway in downtown Rockville Centre. It has consistently operated at higher than average occupancy levels. The non-recourse loan was placed with a NY-based bank for a term of 10-years. The interest rate was fixed at 4.0% for the first 5–yrs.

 

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