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TRANSACTIONS: Emerald Creek arranges Gowanus construction loan; Brick Capital funds UES mortgage;

Brick Capital Partners LLC, announced the following transactions:
• Through an affiliate entity, Brick provided a second mortgage in the amount of $4,000,000 to a private real estate owner. Located in the Upper East Side of Manhattan, the collateral is comprised of an 8-story elevator apartment building with 54 units. The loan is interest only with a 1 year term.
• A first mortgage in the amount of $1,250,000 to a private real estate investor. Located in the Morris Heights section of The Bronx, the collateral is comprised of a four story walk-up apartment building comprised of three doctors offices and six apartments.
• Second mortgages in the aggregate amount of $1,350,000 to a private real estate owner. Located in the Williamsburg and Bushwick sections of Brooklyn, the collateral is comprised of three five story walk-up apartment buildings. The loan proceeds are to be used for the renovation of the buildings and apartments. The loan is interest only with a 1 year term.
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Meridian Capital announced the following transactions:
• Anew mortgage in the amount of $7,000,000 on a 61-unit multifamily property located on West 158th Street in New York, NY. The loan features a rate of 4.00% and a five-year term. Elliott Birnbaum and Kerry Brick negotiated this transaction.
• A new mortgage of $5,250,000 on a multifamily property totaling 42 units located on Coolidge Avenue in Jamaica, NY. The loan features a rate of 3.75% and a five-year term. This transaction was negotiated by Steven Ribiat and Zev Feder.
• A new mortgage in the amount of $4,700,000 on a 48-unit multifamily property located on Bushwick Avenue in Brooklyn, NY. The loan features a rate of 3.75% and a four-year term. Mark Brachfeld and Sean Robertson negotiated this transaction.
• A new mortgage of $2,500,000 on a multifamily property totaling 47 units located on Walton Avenue in the Bronx, NY. The loan features a rate of 3.95% and a seven-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
• A new mortgage in the amount of $2,000,000 on a 10-unit multifamily property located on West 11th Street in New York, NY. The loan features a rate of 4.00% and a five-year term. Scott Assouline and Jacob Nefoussi negotiated this transaction.
• A new mortgage of $1,800,000 was placed on a multifamily property totaling 10 units located on West 104th Street in New York, NY. The loan features a rate of 3.50% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
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W Financial announced the following transactions:
• A $6,688,000 bridge loan for the acquisition of 12 unsold, sponsor-owned condominium units in a recently converted luxury building located on East 88th Street, between Fifth and Madison Avenues, on the Upper East Side of Manhattan. The apartments are fully occupied, and the borrower plans to renovate and resell the apartments as vacancies occur over time. W
• A $3,500,000 bridge loan secured by a senior position in a $4,000,000 defaulted note. The borrowers are using the loan proceeds to provide liquidity for another investment. The underlying mortgage is secured by a retail condominium located on North Rush Street in the prestigious Gold Coast district of Downtown Chicago. The borrower plans to repay the W loan once the underlying borrower refinances or sells the asset.
• A $6,500,000 bridge loan for the acquisition of an approximately 9,500 square foot, pre-war multi-family building located on East 82nd Street, between Fifth and Madison Avenues, steps from Museum mile on Manhattan’s Upper East Side. The borrower; a foreign national, needed the loan in order to close on the acquisition. Once the borrower implements his value add business plan, he then plans to refinance the W Financial loan with a conventional lender.
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Eastern Union Funding announced the following transactions:
• A $9,592,000 first lien mortgage for the refinance of a 269-unit multifamily on Cleveland Ave in Kansas City, MO. This transaction was arranged by Nate Hyman and David Metzger.
• A $3,150,000 first lien mortgage for the refinance of a 70-unit healthcare facility on Sandra Dr in Delmont, PA. This transaction was arranged by Nachum Soroka and Phil Krispin.
• A $2,912,000 first lien mortgage for the acquisition of a property on Alexander Spring Rd in Carlisle, PA. This transaction was arranged by Steve Cohen and Joe Saul.
• A $2,800,000 first lien mortgage for the acquisition of a 168-unit multifamily on Lookaway Drin Saint Louis, MO. This transaction was arranged by Nate Hyman and David Metzger.
• A $2,200,000 first lien mortgage for the acquisition of a property on E 37th St in New York, NY. This transaction was arranged by Jack Beida.
• A $2,170,000 first lien mortgage for the refinance of a 6-unit multifamily on Hull Stin Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
• A $2,000,000 first lien mortgage for the refinance of a 3-unit shopping center on Warrensville Center Rd in Maple Heights, OH. This transaction was arranged by Marc Tropp.
• A $17,873,000 first lien mortgage for the refinance of a 346-unit multifamily on Cumberland Rd in Southfield, MI. This transaction was arranged by David Metzger and Nate Hyman.
• A $16,000,000 first lien mortgage for the acquisition of a 304-unit multifamily on Gadsden Hwy in Birmingham, AL. This transaction was arranged by Jeffrey Seidenfeld.
• A $11,375,000 first lien mortgage for the refinance of a 239-unit multifamily on W Nine Mile Rd in Southfield, MI. This transaction was arranged by Nate Hyman and David Metzger.
• A $1,900,000 first lien mortgage for the refinance of a 24-unit multi family on Myrtle Ave in Staten Island, NY. This transaction was arranged by Moshe Lipschitz.
• A $1,827,500 first lien mortgage for the acquisition of a 40-unit health care on Hamilton Ave in Turtle Creek, PA. This transaction was arranged by Phil Krispin and Nachum Soroka.
• A $1,637,530 first lien mortgage for the refinance of a 7-unit multifamily on 36th St in Astoria, NY. This transaction was arranged by Simcha Margolis.
• A $1,483,000 first lien mortgage for the acquisition of a 6-unit multifamily, mixed-use on Grant Ave,West Side Ave in Jersey City, NJ. This transaction was arranged by Nate Hyman and David Metzger.
• A $1,190,037 first lien mortgage for the refinance of a 5-unit retail property on Reisterstown Rd in Baltimore, MD. This transaction was arranged by Marc Tropp and Ben Alpert.
• A $1,100,000 first lien mortgage for the refinance of a 3-unit mixed-use on Myrtle Ave in Brooklyn, NY. This transaction was arranged by Chaim Greenfeld and Adelle Ross.
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Emerald Creek Capital announced the following loans:
• A $5,215,000 construction loan in the Gowanus neighborhood of Brooklyn, NY. The loan is secured by a to-be completed six-story condominium building that will contain nine residential condominiums and one retail condominium. Financing was originated by ECC Managing Director Jeff Seidler.
• A $6,000,000 refinance in the East Village of Manhattan. The loan is secured by two stabilized mixed-use buildings, totaling 16,664 s/f of net rentable area. Financing was originated by ECC Managing Director Mike Cleaver.
• A $3,100,000 refinance in the Prospect Heights neighborhood in Brooklyn, NY. The loan is secured by a three-story plus basement mixed-use property with 7,180 square feet of gross buildable area. Financing was originated by ECC Senior Associate Matt Fantuzzi.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $43,050,000 for the following properties:
• $28,000,000 for a three-story historic office building comprised of approximately 141,000 square feet, located in Garden City, Nassau County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $6,400,000 for a single-story, retail strip comprised of approximately 10,700 square feet, located on East 167th Street in the Bronx, New York. Adam Brostovski, Principal, arranged the financing.
• $4,400,000 for a five-story mixed-use building containing 10 units and approximately 2,000 square feet of ground floor commercial space, located on Broadway in Brooklyn, New York. Michael Charnowitz, Senior Associate, arranged the financing for this transaction.
• $2,400,000 for a single-story retail commercial building comprised of 5,300 square feet, located on West 238th Street in the Bronx, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing.
• $1,850,000 combined financing for two mixed-use buildings containing a total of 5 units and 2 commercial units, located on Beverley Road in Brooklyn, New York. James Hansen, Associate Broker of GCP Capital Group, arranged the financing for these transactions.
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Hirshmark Capital, through an affiliate entity, announced the funding of a $4,300,000 construction loan secured by a mid-construction site in the Flushing neighborhood of Queens. The subject property will be a 31,000 s/f multifamily building with 40 units. It is within walking distance to a major subway line as well. This transaction was negotiated by Hirshmark’s Matt Schatzle.
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Marcus & Millichap Capital Corporation announced the following transactions:
• A $1,525,000 acquisition loan was arranged for two mixed-use properties on Nostrand Avenue in Brooklyn, NY. The financing was arranged by Andrew Dansker.

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