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Debt & Equity

TRANSACTIONS: Eastern Union Funding arranges $21M refi in Rotterdam

Eastern Union Funding announced the following transactions:
• A $21,000,000 first lien mortgage for the refinance of a 180-unit multifamily in Rotterdam, NY. This transaction was arranged by David Metzger, Nate Hyman and Bernie Fried.
• A $5,200,000 first lien mortgage for the acquisition of a 18-unit multifamily on Collins Ave in Miami Beach, FL. This transaction was arranged by Abraham Bergman.
• A $5,100,000 first lien mortgage for the refinance of a 11-unit mixed-use on Myrtle Ave in Brooklyn, NY. This transaction was arranged by Michael Muller and Moshe Lipschitz.
• A $4,200,000 first lien mortgage for the refinance of a 7-unit, ground-up construction, mixed-use property on Meeker Ave in Brooklyn, NY. This transaction was arranged by Chaim Greenfeld and Adelle Ross.
• A $2,510,700 first-lien mortgage for the construction of a 10-unit, mixed-use property on Dekalb Ave. in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
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GCP Capital Group arranged mortgage financing in the aggregate amount of $51,497,500 for the following properties:
• $24,500,000 loan participation between two national lenders collateralized in part by a mixed-use development site, located in Jamaica, Queens. Matthew Albano, Managing Director of GCP Capital Group, arranged the loan participation for this transaction.
• $11,600,000 for two five-story multifamily apartment buildings containing a total of 105 apartments, located on Thieriot Avenue in the Bronx. Adam Brostovski, principal, arranged the financing.
• $7,500,000 for a three-story office building comprised of 31,000 square feet and an adjacent commercial restaurant building, located in Huntington, Suffolk County. Matthew Classi, managing member, arranged the financing for this transaction.
• $4,500,000 for a one-story, 38,400 square foot commercial building containing 3 retail units, located in East Setauket, Suffolk County. George Spanos, senior associate, arranged the financing.
• $3,397,500 for a four-story office building comprised of 24,500 s/f, located in Peekskill, New York. Jack Fried, senior associate, arranged the financing.
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Leviathan Capital arranged the refinance of a NNN Rite Aid in Philadelphia, PA. Leviathan secured a $2,075,000 loan with a 5-year term at a fixed rate of 4.92% on a 30-year amortization. Andrew Schnissel and Joe Hach negotiated the transaction on behalf of the borrower.
•••
Meridian Capital announced the following transactions:
• A new mortgage in the amount of $22,000,000 on a retail property located on East Central Avenuein Spring Valley, NY. The loan features a rate of 4.25% and a five-year term. Eli Serebrowski negotiated this transaction.
• A new mortgage of $20,750,000 was placed by Meridian on a multifamily property totaling 71 units located on Third Avenue in New York, NY. The loan features a rate of 4.16% and a five-year term. This transaction was negotiated by Morris Diamant and Joseph Akerman.
• A new mortgage in the amount of $12,800,000 on a 288-unit cooperative property located on 77thStreet in Jackson Heights, NY. The loan features a rate of 4.05% and a 20-year term. Avi Geller and Nicoletta M. Pagnotta negotiated this transaction.
• A new mortgage of $8,400,000 on a multifamily property totaling 51 units located on Wales Avenue in the Bronx, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Moe Rosenblum.
• A new mortgage in the amount of $7,350,000 on a 24-unit multifamily property located on West 111th Street in New York, NY. The loan features a rate of 4.375% and a five-year term. Isaac Filler and Michael Helmreich negotiated this transaction.
• A new mortgage of $5,900,000 was placed on a multifamily property totaling 35 units located on Davidson Avenue in the Bronx, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Moe Rosenblum.

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