TRANSACTIONS

TRANSACTIONS: Eastern Union arranges $36M refinance package for NYC investor

Meridian negotiated a new mortgage in the amount of $27,500,000 on a 206-unit multifamily property located on Bronx Park South in the Bronx, NY.
The loan features a rate of 3.125 percent and a five-year term. Barry Lefkowitz and Jay Jacobovitch negotiated this transaction.
•A new mortgage of $19,500,000 was placed by Meridian on an 11-story, 99-unit multifamily property located on Townsend Avenue in the Bronx, NY. The loan features a rate of 3.125 percent and a five-year term. This transaction was negotiated by Avi Weinstock and Michael Farkovits.
•Meridian negotiated a new mortgage in the amount of $12,150,000 on a six-story, 55-unit multifamily property located on West 137thStreet in New York, NY.  The loan features a rate of 3.25 percent and a five-year term. Avi Weinstock and Chaim Tessler negotiated this transaction.
•A new mortgage of $10,000,000 was placed by Meridian on a six-story, 66-unit multifamily property located on Wadsworth Avenue in New York, NY. The loan features a rate of 3.5 percent and a five-year term. This transaction was negotiated by David Hayum.
•Meridian negotiated a new mortgage in the amount of $1,600,000 on a six-unit multifamily property located on Madison Street in Ridgewood, NY. The loan features a rate of 3.625 percent and a 15-year term. Sean Robertson negotiated this transaction.
•A new mortgage of $960,000 was placed by Meridian on a nine-unit multifamily property located on South Fourth Avenue in Mount Vernon, NY. The loan features a rate of 3.5 percent and a five-year term. This transaction was negotiated by Michael Ryback and Judah Hammer.
•••
GCP Capital Group LLC has arranged mortgage financing in the aggregate amount of $23,750,000 for the following properties:
•$7,750,000 for a one-story, single-tenant commercial building comprised of approximately 55,000 square feet, located on Old Country Road in Hicksville, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
•$7,000,000 for a 22,000 square foot multi-level commercial condominium unit located at the base of a 12-story luxury building in the Lower East Side of Manhattan, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
•$5,000,000 for a six-story multifamily apartment building containing 66 units, located on West 172nd Street in the Bronx, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
•$2,500,000 for a five-story multifamily apartment building containing 10 units, located on East 132nd Street in Manhattan, New York. David Sessa, Senior Associate of GCP Capital Group, arranged the financing for this transaction.
•$1,500,000 for two adjacent four-story apartment buildings containing a total of 16 units, located on East 155th Street in the Bronx, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
•••
Select Commercial Funding LLCo announcd the following closed transactions. All loan transactions were negotiated by Stephen A. Sobin, President and Founder of Select Commercial.
•$1,250,000 refinance of a suburban office property located in Cortlandt Manor (Northern Westchester County) New York consisting of 19 tenants.
The borrower received a 25-year loan with rolling 5 year renewals and an initial 5-year fixed rate of 3.875 percent. The loan did not have a balloon payment.
•$1,200,000 loan to facilitate the purchase of a 12-unit apartment building located in Keizer Oregon. The borrower received a 10-year fixed rate of 3.875 percent with a 30-year term and a 30-year amortization. The loan did not have a balloon payment.
•$2,050,000 cash-out refinance of a 59-unit apartment complex in Mooresville North Carolina.
The borrower received a 10-year fixed rate of 4.35 percent with a 20-year term and a 30-year amortization. The loan was non-recourse.
***

Eastern Union announced the following transactions:

Nate Hyman and David Metzger arranged three loans totaling $35.9 million to refinance three apartment communities in Hartford County, Conn., on behalf of a New York City-based private investment firm. Totaling 369 units, the properties are located on Bloomfield Avenue in Windsor, on Lowrey Place in Newington and on Revere Drive in Bloomfield, CT.
•A $13,750,000 first lien mortgage for the refinance of a 41-unit multifamily on Dekalb Ave. in Brooklyn, NY. This transaction was arranged by David Eisen.
•A $4,475,000 first lien mortgage for the acquisition of a 100-unit multifamily on N Main St. in Eureka, IL. This transaction was arranged by Nate Hyman and David Metzger.
•A $4,320,000 first lien mortgage for the refinance of a 324-unit multifamily on Kent Rd. in Haddonfield, NJ. This transaction was arranged by Nate Hyman and David Metzger.
•A $2,800,000 first lien mortgage for the refinance of a 26-unit multifamily on Hayes St. in NE Washington, DC. This transaction was arranged by Marc Tropp and David Merkin.
•A $1,520,000 first lien mortgage for the acquisition of a 3-unit multifamily on Knickerbocker Ave. in Brooklyn, NY. This transaction was arranged by Motti Blau.

Related Posts Plugin for WordPress, Blogger...

COPYRIGHT 2015 REAL ESTATE WEEKLY. ALL RIGHTS RESERVED.