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Debt & Equity

Transactions: Dansker provides $725K financing in Brooklyn, GCP’s $32M in mortgage loans

Meridian Capital announced the following transactions:

  • New mortgages totaling $19,500,000 on five multifamily properties comprised of 221 units located on Valentine Avenue, Creston Avenue and Tyron Avenue in the Bronx, NY; on Academy Street in New York, NY; and on Fulton Avenue in Queens, NY. The loans feature rates of 3.125% and five-year terms. Jacob Schmuckler and Sam Shifer negotiated these transactions.
  • A new mortgage of $6,000,000 was placed on a 54-unit multifamily property located on Clinton Place in New Rochelle, NY. The loan features a rate of 3.25% and a seven-year term. This transaction was negotiated by Jacob Schmuckler and Sam Shifer.
  • Photo courtesy of Flickr
    Photo courtesy of Flickr

    A new mortgage in the amount of $3,400,000 on a six-story, 31-unit multifamily property located on Ocean Avenue in Brooklyn, NY. The loan features a rate of 3.125% and a five-year term. Cary E. Pollack and Steven Cohen negotiated this transaction.

  • A new mortgage of $2,500,000 was placed on a six-story, 25-unit multifamily property located on University Avenue in the Bronx, NY. The loan features a rate of 3.125% and a five-year term. This transaction was negotiated by Michael Kesselman and Kerry Brick.
  • A new mortgage in the amount of $2,400,000 on a four-story, 27-unit multifamily property located on Rockaway Parkway in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Morris Diamant and David Steinmetz negotiated this transaction.
  • New mortgages totaling $1,800,000 were placed on two multifamily properties comprised of 17 units located on Central Avenue and Summit Avenue in Jersey City, NJ. The loans feature rates of 3.125% and five year terms. Max Beyderman and Michael Salamon negotiated these transactions.

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Dansker Realty Capital LLC provided acquisition financing in the amount of $725,000 for the purchase of a six unit multifamily at 78 St. Nicholas Ave. Brooklyn, N.Y.  The transaction was arranged by Lowell Dansker.

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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $32,000,000 for the following properties:

  • $11,600,000 for the development of a six-story condominium building to contain 6 residential units, located on the Upper East Side of Manhattan, New York. Matthew Albano, Senior Broker of GCP Capital Group, arranged the financing for this transaction.
  • $7,000,000 for a seven-story office/retail building comprised of 64,000 net square feet, located in Jersey City, New Jersey. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
  • $6,300,000 for a portfolio of four contiguous multifamily apartment buildings containing a total of 162 units, located in Bridgeport, Connecticut. Adam Brostovski, Principal of GCP Capital Group, arranged the financing for this portfolio.
  • $4,000,000 for a six-story multifamily apartment building containing 68 units and 5 stores, located on East Kingsbridge Road in the Bronx, New York. Adam Brostovski arranged the financing.
  • $3,100,000 combined financing for a four-story apartment building containing 16 units, located in the Tremont section of the Bronx and a four-story apartment building containing 23 units, located in the Bedford section of the Bronx, New York. Stephen Katz, Senior Associate of GCP Capital Group, arranged the financing for these transactions.

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Eastern Union Funding has arranged the following transactions:

  • $4.5 million in acquisition financing for two neighboring multifamily properties that are steps from downtown Hartford, Conn. Respectively, 37 Charter Oak Place and 29 Charter Oak Avenue comprise 70 residential units and 10 residential units with two ground-floor retail spaces. Working on behalf of the borrower, Aria Legacy Group, Joshua Novoseller and Adelle Ross secured the loan with CBRE Capital Markets. Aria recently closed on two Waterbury, Conn., multifamily assets in November 2015, also with the financial assistance of Novoseller.
  • A $5,700,000 first lien mortgage for the refinance of a 5-unit office building on NE 29th Pl. in Miami, FL. This transaction was arranged by Mark Perlowitz and CJ Danziger.
  • A $4,700,000 first lien mortgage for the refinance of a 9-unit shopping center on E Coverland Drive in Ironwood, MI. This transaction was arranged by Shai Romirowsky and Marc Tropp.
  • A $4,282,500 first lien mortgage for the acquisition loan of a 20-unit multifamily on Rhode Island Ave. in NE Washington, DC. This transaction was arranged by Marc Tropp and David Merkin.
  • A $4,000,000 first lien mortgage for the refinance of a 55-unit multifamily on E 193rd St. in Bronx, NY. This transaction was arranged by Michael Muller.
  • A $1,788,000 first lien mortgage for the acquisition loan of a 2-unit industrial property on S 21st St. in Irvington, NJ. This transaction was arranged by Abraham Bergman and Joseph Orzel.
  • A $850,000 first lien mortgage for the refinance of a 8-unit multifamily on Tompkins Ave. in Brooklyn, NY. This transaction was arranged by Abraham Bergman and Joseph Orzel.

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