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Deals & Dealmakers

TRANSACTIONS: Meridian places new $8,000,000 mortgage on 646-unit co-op on Riverside Drive

Meridian has announced the following financing deals:

• A new mortgage of $12,500,000 was placed on a retail property totaling 35,000 square feet located on Avenue Y in Brooklyn, The loan features a rate of 3.75 percent and a 10-year term. This transaction was negotiated by Isaac Filler and Michael Helmreich. 

• Meridian placed a new mortgage in the amount of $8,000,000 on a 646-unit cooperative property located on Riverside Drive. The loan features a rate of 3.85 percent and a 12-year term. Steve Geller and Avi Geller negotiated this transaction. 

• A new mortgage of $7,850,000 was placed on a multifamily property totaling 76 units located on South Columbus Avenue in Mount Vernon. The loan features a rate of 3.85 percent and a 36-month term. This transaction was negotiated by Zev Feder and Jason Bogopulsky. 

• Meridian placed a new mortgage in the amount of $6,300,000 on a 56-unit multifamily property located on Lincoln Road in Brooklyn. The loan features a rate of 3.78 percent and a five-year term. Chaim Tessler and Asher Urbach negotiated this transaction.

• A new mortgage of $4,300,000 was placed on a cooperative property totaling 84 units located on East 22nd Street in Manhattan. The loan features a rate of 3.80 percent and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta. 

• A new mortgage in the amount of $3,250,000 has been placed on a 17-unit multifamily property located on Booth Street in Rego Park, . The loan features a rate of 3.86 percent and a five-year term. Zev Feder and Jason Bogopulsky negotiated this transaction. 

Eastern has arranged financing for the following properties:

• A $31,720,000 first lien mortgage for the acquisition of a 217-unit multifamily property in Elkins Park, PA. This transaction was arranged by David Metzger, Moshe Feiner and Bernie Fried.

• A $12,500,000 first lien mortgage for the acquisition of a hotel in Long Island City. This transaction was arranged by Motti Blau, Mendy Pfeifer and Isaac Weiss.

• A $10,500,000 first lien mortgage for the refinance of a 13-unit multifamily property in Brooklyn. This transaction was arranged by David Eisen and Meir Kessner.

• A $6,200,000 first lien mortgage for the refinance of a 59-unit multifamily property in Brooklyn. This transaction was arranged by Ira Zlotowitz and Michael Muller.

• A $4,800,000 first lien mortgage for the refinance of a 52-unit multifamily property in Bronx. This transaction was arranged by Abraham Bergman, Ira Zlotowitz and Michael Muller.

• A $4,800,000 first lien mortgage for the refinance of a 17-unit mixed-use property in Brooklyn. This transaction was arranged by Mendy Pfeifer and Motti Blau.

• A $3,230,000 first lien mortgage for the refinance of a 26-unit multifamily property in Lakewood, NJ. This transaction was arranged by David Eisen and Meir Kessner.

• A $3,061,000 first lien mortgage for the acquisition of a 8-unit multifamily property in Brooklyn. This transaction was arranged by Isaac Weiss.

A $1,250,000 first lien mortgage for the refinance of a mixed-use property on in Bronx, NY. This transaction was arranged by Michael Muller.

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GCP Capital Group has arranged mortgage financing in the aggregate amount of $30,775,000 for the following properties:

• $12,950,000 combined financing for two 55+ senior citizen apartment complexes containing a total of 18 two-story buildings and 164 units, located in West Sayville and Islip, Suffolk County. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing.

• $8,325,000 combined financing for a four-story multifamily apartment building containing 12 units, located in Yonkers, and two five-story apartment buildings containing a total of 69 units, located in the Bronx. Jack Fried, Senior Associate of GCP arranged the financing.

• $8,000,000 financing for three five-story apartment buildings containing a total of 81 units and 1,400 s/f of commercial space, located in the Bronx. Adam Brostovski, Principal of GCP, arranged the financing.

• $1,500,000 combined second mortgage financing for two development projects resulting in a total of 10 residential apartments and approximately 9,250 s/f of ground floor commercial space, located in Brooklyn. Matthew Albano, Managing Director of GCP, arranged the financing.

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