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TRANSACTIONS: Meridian closes $10.8M loan on West Side; Marcus & Millichap arrange $2.5M refi on Bronx building

Meridian Capital announced the following transactions:

• A new mortgage in the amount of $10,800,000 on an industrial property located on Eleventh Avenue in New York, NY. The loan features a rate of 4.25% and a 15-yearterm. Shamir Seidman and Daniel Neiss negotiated this transaction.
• A new mortgage of $8,050,000 on a multifamily property totaling 101 units located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 4.11% and a seven-year term. This transaction was negotiated by Simon Rosenfeld and Craig Berger.
• A new mortgage in the amount of $8,000,000 on a retail property located on Montague Street in Brooklyn, NY. The loan features a rate of 4.24% and a seven-year term. Bryan Geffen and Brian Flax negotiated this transaction.
• A new mortgage of $1,600,000 on a cooperative property totaling 61 units located on Park Avenue in New York, NY. The loan features a rate 4.04% and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta Pagnotta.
• A new mortgage in the amount of $1,100,000 on a 12-unit condominium property located onBedford Avenue in Brooklyn, NY. The loan features a rate of 3.875% and a 36-month term. Isaac Filler and Michael Helmreich negotiated this transaction.
• A new mortgage of $1,025,000 was placed on an eight-unit multifamily property located on West 149th Street in New York, NY. The loan features a rate of 3.625% and a five-year term. This transaction was negotiated by Sid Teichman.

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Marcus & Millichap Capital Corporation announced the following transaction:

• A $2,525,000 refinance was arranged for a 24-unit, mixed-use property on 182nd Street in the Bronx. The financing was arranged by Andrew Dansker.

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Leviathan Capital announced the folowing transactions:

• A $2,215,000 permanent mortgage for a mixed-use property located in Park Slope. Leviathan secured a 5-year fixed rate loan at 4.15% with the first year interest only. Joe Hach and Noele Kleemola arranged the financing.
• A $3,500,000 bridge loan, comprised of a $2,700,000 first mortgage lien and an $800k mezzanine loan. The loan recapitalized a artially-complete construction project for a 6-unit condominium building in Harlem. The blended rate was 9.00%. Joe Hach arranged the financing.

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Houlihan Parnes Properties, an affiliate of Houlihan-Parnes Realtors LLC, represented by Jeremiah A Houlihan, announced the refinancing of a first mortgage loan encumbering three 1-story steel frame and concrete buildings known as the Northern Westchester Shopping Plaza, located at the corner of the Route 117 By-Pass Rd and Harris Rd in Bedford Hills, NY. The property is situated on 9 acres and has an aggregate total of 90,000 s/f of retail and office tenants with on-site parking. The 15-year $3,000,000 loan has a fixed rate of 4.25% payable on a self-liquidating basis. The loan, which closed with a local savings bank, is prepayable throughout the term on a declining scale.

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Hirshmark Capital, through an affiliate entity, announced the funding of a $1,550,000 bridge loan secured by a mixed-use building in Downtown Brooklyn. The subject property is roughly 4,500 s/f with 6 apartments and a store. The borrower needed capital for a different business opportunity. This transaction was negotiated by Hirshmark’s David Pinkhasov.

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H Equities announced the following transactions:

• A $750,000 senior mortgage on a 5,000 s/f Downtown Manhattan condo. Elliot Horowitz negotiated this transaction.
• $1,800,000 senior mortgage on a luxury rental home in a beach town situated on an acre of land in Monmouth County NJ. Elliot Horowitz negotiated this transaction.
• $800,000 senior mortgage on a three multifamily brownstone in Brooklyn NY. Elliot Horowitz negotiated this transaction.
• $650,000 senior mortgage on a two family rental property in Brooklyn NY. Elliot Horowitz negotiated this transaction.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $19,650,000 for the following properties:

• $6,300,000 for a six-story multifamily apartment building containing 78 apartments and 4 commercial units, located on Gerard Avenue in the Bronx. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• A $5,000,000 bridge loan for a 100 unit senior for-sale apartment community comprised of 10 buildings with a full amenity package located in East Islip, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
• $4,750,000 for a five-story multifamily apartment building containing 22 units, located on West 152nd Street in Manhattan, New York. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this transaction.
• $3,600,000 for a newly gut renovated, three-story brownstone containing 8 luxury apartments, located on Park Place in Brooklyn, New York. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.

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Eastern Union Funding announced the following transactions:

• A $52,000,000 first lien mortgage for the refinance of a mixed-use on Myrtle Ave in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
• A $27,000,000 first lien mortgage for the refinance of a 320-unit multifamily on Emerald Forest Dr in Durham, NC. This transaction was arranged by Jeffrey Seidenfeld.
• A $14,100,000 first lien mortgage for the acquisition of a 464-unit multifamily on E 21st Pl in Tulsa, OK. This transaction was arranged by David Eisen and Meir Kessner.
• A $8,440,000 first lien mortgage for the acquisition of a 10-unit retail center on American Legion Hwy in Roslindale, MA. This transaction was arranged by Moshe Lipschitz.
• A $2,475,000 first lien mortgage for the refinance of a 7-unit mixed-use on Pacific St in Brooklyn, NY. This transaction was arranged by Abe Kolman.
• A $1,600,000 first lien mortgage for the acquisition of an industrial property on Chesapeake Ave in Baltimore, MD. This transaction was arranged by Marc Tropp and David Merkin.
• A $1,300,000 first lien mortgage for the refinance of a 25-unit multifamily on Schley St in Newark, NJ. This transaction was arranged by Nikki Levitin and Michael Muller.
• A $1,000,000 first lien mortgage for the acquisition of a 7-unit multifamily on Jefferson Ave in Brooklyn, NY. This transaction was arranged by Michael Muller and Moshe Lipschitz.

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W Financial announced the following transactions:

• A $7,800,000 bridge loan collateralized by a first mortgage on a package of nine multi-family properties located on Regent Place, Bedford Avenue, East 18th Street, East 21st Street and East 22nd Streets in Brooklyn, NY. W Financial’s loan was used to refinance an existing mortgage on the portfolio which is comprised of 71 apartments in three and four-story walk-up buildings. The bridge loan will allow the borrower additional time to make building repairs and to prepare for refinancing with conventional long-term, permanent bank financing.
• A $500,000 bridge loan secured by a first mortgage on a 12,000 s/f commercial building located on South State Street in Hackensack, NJ. The borrower obtained the loan to access liquidity for another investment.
• A $7,750,000 bridge loan on a two-story retail building located on Camden Drive in the “Platinum Triangle” section of Beverly Hills, California. W’s bridge loan was used to refinance an existing first mortgage on the fee interest as well as to acquire the ground-lease interest.
• A $33,500,000 first mortgage bridge loan secured by commercial property located on Spring Street in Manhattan’s SoHo neighborhood, as well as a development site located on West 46th Street in the Hell’s Kitchen neighborhood of Manhattan. The time-sensitive bridge loan was utilized to refinance an existing first mortgage as well as to provide the borrower with some liquidity for another investment.

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