Transactions: Meridian’s $15.9M loan for Pearl St. property, GCP’s $36.8M in mortgages

Meridian Capital announced the following transactions:

  • A new mortgage in the amount of $15,850,000 on a 42-unit multifamily property located on Pearl Street in New York, NY. The loan features an initial rate of 3.36% and a five-year term. Israel Schubert and David Cohen negotiated this transaction.
  • A new mortgage of $12,250,000 was placed by Meridian on a six-story, 40-unit multifamily property located on St. Nicholas Avenue in New York, NY. The loan features an initial rate of 3.50% and a three-year term. This transaction was negotiated by Charles Grussgott and Michael Helmreich.
  • A new mortgage in the amount of $9,200,000 on a six-story, 28-unit multifamily property located on East 28th Street in New York, NY. The loan features an initial rate of 3.375% and a five-year term. David Ganz and Eric Chapek negotiated this transaction.
  • A new mortgage of $4,500,000 was placed on a six-story, 42-unit multifamily property located on Bay 26th Street in Brooklyn, NY. The loan features an initial rate of 3.49% and a five-year term. This transaction was negotiated by Joe Taub and Eric Chapek.
  • A new mortgage in the amount of $2,600,000 on a five-story, 23-unit multifamily property located on Beaumont Avenue in the Bronx, NY. The loan features an initial rate of 3.50% and a five-year term. Alan Friedman and Eric Chapek negotiated this transaction.
  • A new mortgage of $1,900,000 was placed by Meridian on an eight-unit multifamily property located on West 85th Street in New York, NY. The loan features an initial rate of 3.25% and a three-year term. This transaction was negotiated by Chaim Tessler.

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GCP Capital Group LLC  arranged mortgage financing in the aggregate amount of $36,750,000 for the following properties:

  • $16,000,000 for two adjacent office buildings comprising a total of approximately 210,670 square feet, located in Secaucus, New Jersey. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
  • $11,500,000 for two contiguous six-story mixed-use buildings containing a total of 51 apartments and 845 square feet of commercial space, located in the East Village of Manhattan, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $6,850,000 for a six-story multifamily apartment building containing 59 units, located on 41st Street in Queens, New York. Alan Perlmutter, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $1,200,000 for a one-story, 2,600 square foot commercial building occupied by 7-11 Convenience Store, located in East Northport, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $1,200,000 for a one-story, single tenant commercial building comprised of 3,800 square feet, located in Melville, Suffolk County, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.

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Eastern Union Funding announced the following transactions:

  • $19,695,000 first lien mortgage for the refinance of two multifamily communities on Club Ridge Circle in Memphis, TN, totaling 486 units. This transaction was arranged by Ira Zlotowitz and Michael Muller.
  • A $6,000,000 first lien mortgage for the acquisition of a 23-unit, mixed-use on Riverdale Ave. in Brooklyn, NY. This transaction was arranged by Nate Hyman, Jonathan Singer and David Metzger.
  • A $5,000,000 first lien mortgage for the acquisition of a 17-unit multifamily on 42nd St. in Sunnyside, NY. This transaction was arranged by Ira Zlotowitz.
  • $4,083,000 in first lien mortgages for the refinance of two apartment communities in Baltimore, MD; a 44-unit multifamily on Leiden Rd. and a 40-unit multifamily on Radecke Ave. These transactions were arranged by Marc Tropp.
  • A $3,276,000 first lien mortgage for the acquisition of a 173,244-square-foot retail center on Wilborn Ave. in South Boston, VA. This transaction was arranged by Marc Tropp.
  • A $3,000,000 first lien mortgage for the refinance of an 11-unit, mixed-use on Myrtle Ave. in Brooklyn, NY. This transaction was arranged by David Eisen.
  • A $3,000,000 first lien mortgage for the refinance of a 13-unit, mixed-use on Marcy Ave. in Brooklyn, NY. This transaction was arranged by Motti Blau and Chaim Greenfeld.
  • A $2,125,000 first lien mortgage for the refinance of a 21-unit multifamily on 39th St. in Union City, NJ. This transaction was arranged by Michael Muller and Ira Zlotowitz.
  • A $1,900,000 first lien mortgage for the refinance of a 15,300-square-foot office building on East County Line Rd. in Lakewood, NJ. This transaction was arranged by Moti Amsel.
  • A $1,600,000 first lien mortgage for the refinance of a 12,082-square-foot retail center on Lord Baltimore Dr. in Windsor Mill, MD. This transaction was arranged by Marc Tropp and David Merkin.
  • A $1,475,000 first lien mortgage for the acquisition of a 121,567-square-foot industrial property on N. 16th St. in Lebanon, PA. This transaction was arranged by Michael Muller.
  • A $1,400,000 first lien mortgage for the refinance of a 15-unit multifamily on 49th St. in Union City, NJ. This transaction was arranged by Michael Muller and Ira Zlotowitz.
  • A $1,300,000 first lien mortgage for the acquisition of a mixed-use property on Suydam St. in Brooklyn, NY. This transaction was arranged by Ira Zlotowitz.
  • A $1,300,000 first lien mortgage for the refinance of a 7-unit, mixed-use on Bergenline Ave. in West New York, NJ. This transaction was arranged by Michael Muller and Ira Zlotowitz.
  • A $1,010,000 first lien mortgage for the acquisition of a 16-unit multifamily on Madison Ave. in Elizabeth, NJ. This transaction was arranged by Nate Hyman and David Metzger.
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