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Deals & Dealmakers

TRANSACTIONS: GCP arranges $42M loan in Hempstead, Meridian secures $11.5M mortgage at West 25th

GCP Capital Group arranged mortgage financing in the aggregate amount of $61,400,000 for the following properties:

  • $42,000,000 for a 14-building two-story garden apartment complex containing a total of 240 apartments, located in Hempstead, Nassau County, New York. Paul Greenbaum, managing member, arranged the financing for this transaction.
  • $15,000,000 for a three-story retail shopping mall with indoor parking garage comprised of approximately 295,000 square feet, located in Paterson, New Jersey. Adam Brostovski, principal, arranged the financing for this transaction.
  • $2,300,000 acquisition financing for a vacant development site that will be developed into a seven-story multifamily building containing 22 units with one ground floor retail unit of approximately 4,700 square feet, located in Astoria, Queens, New York. Matthew Classi, managing member, arranged the financing for this transaction.
  • $2,100,000 for a four-story multifamily apartment building containing 7 units, located on Madison Street in Queens, New York. Matthew Albano, managing director, arranged the financing for this transaction.

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Meridian Capital announced the following transactions:

  • A new mortgage of $11,500,000 was placed by Meridian on an office property totaling 30,000 square feet located on West 25th Street in New York, NY. The loan features a rate of 4.625% and a seven-year term. This transaction was negotiated by Allan Lieberman and Asher Haft.
  • A new mortgage in the amount of $7,500,000 on a 41-unit multifamily property located on St. Nicholas Avenue in New York, NY. The loan features a rate of 3.83% and a five-year term. Shamir Seidman and Daniel Neiss negotiated this transaction.
  • A new mortgage of $5,000,000 was placed by Meridian on a multifamily property totaling 33 units located on West 116th Street in New York, NY. The loan features a rate of 3.83% and a five-year term. This transaction was negotiated by Shamir Seidman and Daniel Neiss.
  • A new mortgage in the amount of $4,500,000 on a 24-unit multifamily property located on East 85th Street in New York, NY. The loan features a rate of 4.125% and a five-year term. David Hayum and Luke Hingson negotiated this transaction.
  • A new mortgage of $3,000,000 was placed by Meridian on a multifamily property totaling nine units located on Malcom X Boulevard in Brooklyn, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Judah Hammer and Jason Bogopulsky.
  • A new mortgage in the amount of $1,450,000 on a 16-unit multifamily property located on East 183rd Street in the Bronx, NY. The loan features a rate of 4.125% and a five-year term. Judah Hammer and Daniel Neiss negotiated this transaction.

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Eastern Union Funding announced the following transactions:

  • A $4,305,000 first lien mortgage at a rate of 3.8% for the acquisition of a 22-unit multifamily on Ave D in New York, NY. This transaction was arranged by Abe Kolman.
  • A $3,600,000 first lien mortgage for the refinance of a 27-unit multifamily on E 82nd St in Brooklyn, NY. This transaction was arranged by Isaac Weiss, Mendy Pfeifer and Motti Blau.
  • A $2,925,000 first lien mortgage for the acquisition of a 10-unit apartment building on W 82nd St in New York, NY. This transaction was arranged by Michael Muller.
  • A $2,850,000 first lien mortgage for the acquisition of a 14-unit mixed-use on Amsterdam Ave in New York, NY. This transaction was arranged by Isaac Sternhill.
  • A $2,700,000 first lien mortgage for the refinance of a 36-unit multifamily on Surrey Ave in Winslow, NJ. This transaction was arranged by David Metzger and Judah Aderet.
  • A $2,125,000 first lien mortgage for the refinance of an 8-unit mixed-use on 5th Ave in Brooklyn, NY. This transaction was arranged by Jack Beida.
  • A $1,820,000 first lien mortgage for the refinance of a 9,779 square-foot shopping center on Nelson Ave in Bronx, NY. This transaction was arranged by Alex Jaffa and Michael Muller.
  • A $1,698,000 first lien mortgage for the acquisition of a 19-unit mixed-use on Bloomfield Ave in Bloomfield, NJ. This transaction was arranged by David Metzger.
  • A $1,685,625 first lien mortgage for the acquisition of a 51,734 square-foot shopping center on Celanese Rd in Rock Hill, SC. This transaction was arranged by Marc Tropp.
  • A $1,516,000 first lien mortgage for the refinance of an 11-unit mixed-use on Jefferson St and Nichols St in Newark, NJ. This transaction was arranged by Yossi Rubin.

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Arbor Realty Trust announced the following transactions:

  • 352 Weirfield Street, a six-unit multifamily property in Brooklyn, NY, received $3M in funding through the Freddie Mac SBL program. The deal comes with a five-year hybrid term and a 30-year amortization schedule. Geoffrey Platt of Arbor’s New York City office originated the loan.
  • A single-family rental portfolio deal spanning three counties in New Jersey, under the Freddie Mac Single-Family Rental pilot. The New Jersey SFR portfolio, which consists of 78 total units across 33 properties in Hudson, Essex and Passaic Counties, received $10.4M in refinancing through the Freddie Mac Conventional loan program. Stephen York of Arbor’s New York City Office originated the loan.

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