Breaking News

TRANSACTIONS: GCP finances multifamily buy, Eastern Union cuts $15M mortgage

Meridian Capital announced the following transactions:

• A new mortgage of $14,400,000 on an 87-unit multifamily property located on Bowne Street in Queens, NY. The loan features an initial rate of 3.375% and a five-year term. Joseph Taub and Eric Chapek negotiated this transaction.

• A new mortgage of $13,600,000 on a 94-unit multifamily property located on 63rd Avenue in Queens, NY. The loan features an initial rate of 3.375% and a five-year term. This transaction was negotiated by Joseph Taub and Eric Chapek.

• A new mortgage in the amount of $9,600,000 on a 54-unit multifamily property located on Avenue F in Brooklyn, NY. The loan features an initial rate of 3.50% and a five-year term. Sam Shifter negotiated this transaction.

• A new mortgage of $6,000,000 was placed by Meridian on a 43-unit multifamily property located on Cabrini Boulevard in New York, NY. The loan features an initial rate of 3.50% and a seven-year term. This transaction was negotiated by David Ganz and Eric Chapek.

• A new mortgage in the amount of $6,000,000 on a 5,000 square foot office property located on Montague Street in Brooklyn, NY. The loan features a rate of 3.50% and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.

• A new mortgage of $1,500,000 was placed on a 26-unit multifamily property located on Fort Hamilton Parkway in Brooklyn, NY. The loan features an initial rate of 3.25% and a five-year term. This transaction was negotiated by Zev Feder and Adam Ehrenreich.

•••

Emerald Creek Capital announced the following loans:

• $5,200,000 refinance in the Center City neighborhood of Philadelphia, PA. The subject property is a commercial building with 40,320 square feet of net rentable area. The loan was originated by ECC Managing Director Mike Cleaver and arranged by Meridian Capital Group.

• $1,755,000 acquisition loan in the Fashion District neighborhood of Los Angeles, CA. The loan is secured by a free-standing commercial building with 4,366 square feet of net rentable area. The loan was originated by ECC Senior Associate Matt Fantuzzi.

•••

Eastern Union Funding announced the following transactions:

• A $15,000,000 first lien mortgage for the refinance of a 153-unit multifamily on Bangor Square in Virginia Beach, VA. This transaction was arranged by Nate Hyman and David Metzger.

• A $13,500,000 first lien mortgage for the refinance of a 168-unit multifamily on W Trenton Ave in Morrisville, PA. This transaction was arranged by Nate Hyman and David Metzger.

• An $11,760,000 first lien mortgage for the acquisition of a 202-unit multifamily on Franklin Rd in Southfield, MI. This transaction was arranged by Simcha Margolis.

• A $9,940,000 first lien mortgage for the acquisition of a 171-unit multifamily on W 12 Mile Rd in Southfield, MI. This transaction was arranged by Simcha Margolis.

• A $5,214,680 first lien mortgage for the refinance of a 1-unit single tenant on Veterans Memorial Hwy in Islandia, NY. This transaction was arranged by Abraham Bergman and Eli Schwartz.

• A $4,700,000 first lien mortgage for the refinance of a 5-unit condo on Knox Rd in College Park, MD. This transaction was arranged by Ira Zlotowitz.

• A $2,500,000 first lien mortgage for the acquisition of a 9-unit multifamily,mixed-use on Summit Ave,E 183rd St,Osborne Pl in Bronx, NY. This transaction was arranged by Ira Zlotowitz and Michael Muller.

• A $2,350,000 first lien mortgage for the acquisition of a 49-unit multifamily on Chesapeake Ave in North Beach, MD. This transaction was arranged by Moshe Lipschitz.

• A $1,375,000 first lien mortgage for the refinance of a 6-unit multifamily on Vernon Ave in Brooklyn, NY. This transaction was arranged by Michael Muller and Moshe Lipschitz.

• A $1,100,000 first lien mortgage for the acquisition of a 9-unit multifamily on E 175th St in Bronx, NY. This transaction was arranged by Michael Muller and Ira Zlotowitz.

• A $1,075,000 first lien mortgage for the refinance of a 6-unit multifamily on Cooper St in Brooklyn, NY. This transaction was arranged by Isaac Sternhill.

• A $1,050,000 first lien mortgage for the acquisition of a 3-unit multifamily on 16th St NW in Washington, DC. This transaction was arranged by David Merkin and Marc Tropp.

• A $1,005,000 first lien mortgage for the acquisition of a 6-unit industrial on Division Ave in Garfield, NJ. This transaction was arranged by Yossi Orzel and Abraham Bergman.

• A $1,000,000 first lien mortgage for the refinance of an 11-unit mixed-use on W Main St in Middletown, NY. This transaction was arranged by Adelle Ross and Ben Schwartz.

•••

GCP Capital Group arranged mortgage financing in the aggregate amount of $70,700,000 for the following properties:

• $32,250,000 for a 15-story multifamily apartment building containing 183 units and 1 commercial unit, located on Amsterdam Avenue in Manhattan, New York. Paul Greenbaum, Managing Member, arranged the financing for this transaction.

• $14,000,000 for a five-story mixed-use building comprised of approximately 115,200 square feet with 72 apartments and ground floor commercial space, located in Valley Stream, Nassau County, New York. Adam Brostovski, principal, arranged the financing for this transaction.

• $12,250,000 for three contiguous five-story multifamily apartment buildings containing a total of 98 apartments and 2 commercial units, located in the Washington Heights section of Manhattan, New York. Stephen Katz, Managing Director, arranged the financing for this transaction.

• $8,200,000 for a six-story multifamily apartment building containing 65 units, located on Bay Parkway in Brooklyn, New York. Alan Perlmutter, Managing Member, arranged the financing.

• $4,000,000 for a newly developed residential rental apartment complex containing 18 units, located in West Babylon, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.

•••

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

• $3,350,000 bridge loan secured by a triple net retail building in Queens. The subject property is a 3,500 s/f building leased to TD Bank. Jake Soodek negotiated this transaction.

• $1,500,000 bridge loan secured by a mixed-use property in the East Village neighborhood of Manhattan. The subject property is a 6,000 s/f, 5-story brick building, with 6 apartments and a store. Jake Soodek negotiated this transaction.

• $750,000 bridge loan secured by a 50% interest in a Tenancy In Common at a retail/industrial building in the Greenpoint neighborhood of Brooklyn. The subject property is a single story, corner building with 10,000 s/f. Matthew Schatzle negotiated this transaction.

• $700,000 bridge loan secured by a mixed-use property located in the Greenpoint neighborhood of Brooklyn. The subject property is a 4,250 s/f, 3-story building, with 4 apartments and one vacant commercial retail space on the ground floor. Jake Soodek negotiated this transaction.

•••

James J. Houlihan of Houlihan Parnes Realtors, announced the placement of a $6.5 million new first mortgage on the property located at 375 Executive Boulevard, Elmsford, New York. The property is located within Cross Westchester Executive Park which features 26 office and office/flex buildings that offer 1.3 million square feet of commercial space for corporate offices, technology-related facilities, and light industrial, distribution, and service centers. The property consists of a single-story warehouse attached to a two-story commercial office building with approximately 80,229 s/f situated on a 3.53 acre parcel, built in 1970. The loan was placed for a term of five years with a 5-year extension option. The property was purchased in 2016, and is now 100 percent leased to five tenants. The owners were represented by Steven C. Hirsch of Hirsch & Gibaldi and the title was insured by The Great American Title Insurance Company.

•••

Marcus & Millichap Capital Corporation announced the following transactions:

• A $2,100,000 loan to refinance a 3,000 s/f double-net-leased retail property located on Hylan Boulevard in Staten Island and a two-story mixed-use building located on 88th Street in the Glendale neighborhood of Queens. The financing was arranged by Andrew Dansker and Matt Michelson.

• A $1,300,000 loan for the acquisition of a 7,500 s/f triple net leased retail property located on Highland Avenue in Chester, PA. The financing was arranged by Andrew Dansker.

Comments are closed

Copyrıght 2013 FUEL THEMES. All RIGHTS RESERVED.