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Deals & Dealmakers

TRANSACTIONS: Meridian finances $9.5M Brooklyn multifamily, GCP arranges $20M loan in East Village

Eastern Union Funding announced the following transactions:

  • A $24,320,000 first lien mortgage for the construction of a 210-unit multifamily on Challenger Blvd in Fort Myers, FL. This transaction was arranged by Abe Kolman and David Metzger.
  • A $22,720,000 first lien mortgage for the acquisition of a 240-unit healthcare on Farrow Rd in Memphis, TN. This transaction was arranged by Nachum Soroka, Phil Krispin and Simcha Greenwald.
  • A $17,500,000 first lien mortgage for the refinance of a mixed-use on W 75th St in New York, NY. This transaction was arranged by David Metzger and Moshe Feiner.
  • A $15,500,000 first lien mortgage for the refinance of a 31-unit office building on Stagg St in Brooklyn, NY. This transaction was arranged by Meir Kessner and David Eisen.
  • A $14,000,000 first lien mortgage for the acquisition of a 250-unit multifamily on Grissom Rd in Leon Valley, TX. This transaction was arranged by Marc Belsky and Yitzy Halon.
  • A $13,900,000 first lien mortgage for the refinance of a 320-unit multifamily on Winkler Ave in Fort Myers, FL. This transaction was arranged by David Metzger.
  • A $13,000,000 first lien mortgage for the acquisition of a 232-unit multifamily on La Prada Dr E in Dallas, TX. This transaction was arranged by Judah Aderet and Adelle Ross.
  • A $12,187,376 first lien mortgage for the construction of a 12-unit mixed-use on 14th St NW in Washington, DC. This transaction was arranged by Marc Tropp.
  • A $11,760,000 first lien mortgage for the acquisition of a 197-unit multifamily on S Broadway in Pennsville, NJ. This transaction was arranged by David Metzger and Judah Aderet.
  • A $8,820,000 first lien mortgage for the refinance of a 93,743 SF shopping center on S Bay St in Eustis, FL. This transaction was arranged by Chesky Gross and David Eisen.
  • A $3,750,000 first lien mortgage for the acquisition of a 32-unit multifamily on 57th St in Woodside, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
  • A $3,500,000 first lien mortgage for the refinance of a total of 8-unit shopping center on W Dixie Hwy in Miami, FL. This transaction was arranged by Ira Zlotowitz and Joe Saul.
  • A $3,014,000 first lien mortgage for the acquisition of a 25-unit multifamily on Mohegan Ave in Bronx, NY. This transaction was arranged by Judah Aderet and Adelle Ross.
  • A $2,537,000 first lien mortgage for the acquisition of a total of 35-units on Elizabeth Ave and First St in Elizabethport, NJ. This transaction was arranged by David Metzger.
  • A $2,500,000 first lien mortgage for the refinance of a 240-unit healthcare on Farrow Rd in Memphis, TN. This transaction was arranged by Phil Krispin, Nachum Soroka and Simcha Greenwald.
  • A $2,455,830 first lien mortgage for the construction of a 6-unit multifamily on Putnam Ave in Brooklyn, NY. This transaction was arranged by Moshe Lipschitz.
  • A $2,433,000 first lien mortgage for the acquisition of a 85-unit multifamily on State St in Springfield, MA. This transaction was arranged by David Metzger.
  • A $2,370,000 first lien mortgage for the construction of a 10-unit multifamily on Malcolm X Blvd in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
  • A $1,675,000 first lien mortgage for the acquisition of a 21-unit multifamily on Church St in Rahway, NJ. This transaction was arranged by David Metzger.
  • A $1,660,000 first lien mortgage for the acquisition of a 23-unit mixed-use on 1st St in Elizabethport, NJ. This transaction was arranged by David Metzger.
  • A $1,650,000 first lien mortgage for the refinance of a 6-unit multifamily on Hancock St in Brooklyn, NY. This transaction was arranged by Alex Freund.
  • A $1,610,000 first lien mortgage for the acquisition of an industrial property on Washington St in Perth Amboy, NJ. This transaction was arranged by David Metzger.
  • A $1,275,000 first lien mortgage for the refinance of a 5,880 mixed-use on Broad St in Red Bank, NJ. This transaction was arranged by Judah Aderet and Adelle Ross.
  • A $1,000,000 first lien mortgage for the refinance of a 15-unit multifamily on Benton St in Hartford, CT. This transaction was arranged by Motti Blau and Mendy Pfeifer.

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Meridian Capital announced the following transactions:

  • A new mortgage of $9,500,000 on a multifamily property totaling 138 units located on Parkside Avenue in Brooklyn, NY. The loan features a rate of 4.125% and a five-year term. This transaction was negotiated by Judah Hammer and Daniel Neiss.
  • A new mortgage in the amount of $6,600,000 on a 60-unit multifamily property located on Rochambeau Avenue 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.
  • A new mortgage of $4,000,000 was placed on a multifamily property totaling 42 units located on Sherman Avenue in New York, NY. The loan features a rate of 4.25% and a seven-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
  • A new mortgage in the amount of $3,500,000 on a 19-unit multifamily property located on William Street in Yonkers, NY. The loan features a rate of 4.34% and a 36-month term. Judah Hammer and Jason Bogopulsky negotiated this transaction.
  • A new mortgage of $2,700,000 on a multifamily property totaling 29 units located on West 205th Street in New York, NY. The loan features a rate of 4.25% and a seven-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.
  • A new mortgage in the amount of $2,600,000 on a 21-unit multifamily property located on West 171st Street in New York, NY. The loan features a rate of 4.25% and a seven-year term. Morris Diamant and Tzvi Krieger negotiated this transaction.

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GCP Capital Group arranged mortgage financing in the aggregate amount of $46,350,000 for the following properties:

  • $20,300,000 for a five-story mixed-use building containing 60 apartments and 4,550 square feet of commercial space, located in the East Village section of Manhattan,. Paul Greenbaum, Managing Member, arranged the financing for this transaction.
  • $12,500,000 for three five-story multifamily apartment buildings containing a total of 36 units and 5,200 square feet of commercial space, located on West 42nd Street in Manhattan. Adam Brostovski, Principal, arranged the financing.
  • $9,500,000 for the redevelopment of an existing structure into a seven-story residential condominium building containing 13 luxury units, located in the Williamsburg section of Brooklyn. Matthew Albano, Managing Director, arranged the financing for this transaction.
  • $4,050,000 for a one-story commercial/retail building comprised of 8,400 square feet, located on Bell Boulevard in Queens. David Sessa, Managing Directorarranged the financing.

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Procida Funding provided a $7,000,000 Debt Refinancing & Rehabilitation Loan, on behalf of The 100 Mile Fund, to consolidate existing debt and complete minor property improvements of the Fiesta Banquet Hall located at 255 Route 17, Wood-Ridge, NJ. The Fiesta is a family-owned and operated banquet hall that has been hosting events for over 60 years. The two-story venue hosts up to 500 guests and consists of four banquet rooms, two bridal suites, and two commercial kitchens. Brian Foley, Head of Originations, announced the deal.

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Cronheim Mortgage arranged financing totaling $5 million for the Old Westbury Hebrew Congregation synagogue in the Village of Old Westbury, Nassau County, Long Island, New York. The Property contains 52,739 s/f on approximately 15.7 acres. A portion of the building containing 24,582 s/f was completed in 2007 and consists of a sanctuary, offices, and classrooms.

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