Meridian Capital announced the following transactions:
• A new mortgage of $6,400,000 was placed by Meridian on an eight-story, 355-unit multifamily building on West 131st Street in New York, NY. The loan features a rate of 3.25% and a five-year term. This transaction was negotiated by Scott Assouline and Isaac Lifshitz.
• A new mortgage in the amount of $4,500,000 on a six-story, 89-unit multifamily building on Emmons Avenue in Brooklyn, NY. The loan features a rate of 4.13% and a 10-year term. Aaron Birnbaum and Carol Shelby negotiated this transaction.
• A new mortgage of $3,750,000 was placed on a 72-unit multifamily building on Park Avenue in Newark, NJ. The loan features a rate of 3.94% and a 10-year term. This transaction was negotiated by Jack Coopersmith.
• A new mortgage in the amount of $3,200,000 on a five-story, 33-unit multifamily building on West 170th Street in New York, NY. The loan features a rate of 3.63% and a five-year term. Isaac Filler and Jonathan Katzir negotiated this transaction.
• A new mortgage of $2,250,000 was placed on a five-story, 21-unit multifamily building on East 169th Street in the Bronx, NY. The loan featured a rate of 3.45% and a five-year term. This transaction was negotiated by Isaac Filler and Sam Shifer.
• A new mortgage in the amount of $2,140,000 on a three-story, 16-unit multifamily building on West 120th Street in New York, NY. This loan featured a rate of 3.38% with a five-year term. Isaac Filler and Sam Shifer negotiated this transaction.
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Brick Realty Capital LLC, through an affiliate entity, has provided a first mortgage in the amount of $475,000.00 to a local real estate investor. The collateral, located in Long Island City, is comprised of a three story walk-up apartment building that contains 6 units. Jason Au, director of finance of Brick Capital Group, arranged the financing for this transaction.
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Commercial Mortgage Capital (CMC) arranged two multifamily loans for a total of $5.18 million:
• A $3.1-million fixed-rate, first mortgage loan for an 80-unit apartment complex in Cedar Park, TX. The 10/30 loan was placed with a correspondent life company lender. Buttercup Creek Apartments is a mix of seven one-bedroom and 73 two-bedroom apartments for a total of 65,200 rentable square feet. The garden apartment complex consists of 20 two-story buildings situated on 4.81 acres.
• A $2.08-million fixed-rate loan for a modern garden style apartment in Roselle, NJ. The loan was placed with a local New Jersey bank. The property, which features 20 one-bedroom and four two-bedroom units, is located in Central New Jersey close to major roadways including the Garden State Parkway, New Jersey Turnpike and Routes 1 & 9.
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Eastern Union announced the following transactions:
• A $5,450,000 first lien mortgage for the purchase of a 59 unit multi family building on East 21st street in Brooklyn, NY. Nate Hyman and David Metzger negotiated this deal with 1 year Interest Only
• A $3,000,000 first lien mortgage for the refinance of a mixed use property consisting of 18 residential units and 1,300 square feet of retail space on 9th Avenue in New York, NY. This transaction was negotiated by Eli Breiner.
• $3,000,000 first lien mortgage for the refinance of a mixed use property consisting of 16 residential units and 2 commercial tenants on Schenectady Ave in Brooklyn, NY. This deal was negotiated by Alex Freund and closed in under 5 weeks from submission.
• A $2,500,000 first lien mortgage for the refinance of a mixed use property consisting of 17 residential units and 2 commercial tenants on West 28th Street in NY, NY. This transaction was negotiated by Eli Breiner.
• A $1,237,500 first lien mortgage for the refinance of a 8 unit multi family building on 113th Street in Queens, NY. Nate Hyman and David Metzger negotiated this deal for a fixed rate of 3.125%.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $48,575,000 for the following properties:
• $20,600,000 for an 18 building apartment complex containing a total of 367 units, located in Bladensburg, Maryland. Paul Greenbaum arranged the financing.
• $12,700,000 for a portfolio of five apartment buildings with a total of 28 units and a four-story apartment building containing 12 units plus 2,800 square feet of ground floor retail space, located on the Upper East Side of New York. Matthew Classi arranged the financing.
• $7,350,000 for a 12-story apartment building containing 205 units, located in Trenton, New Jersey. Adam Brostovski arranged the financing.
• $5,625,000 combined financing for a four-story apartment building containing 5 units and 2,200 square feet of commercial space and a five-story apartment building containing 30 units, located on the Upper East Side and Midtown Center neighborhoods of New York. Matthew Albano arranged the financing .
• $2,300,000 for a five-story apartment building containing 11 apartments, located on East 83rd Street in Manhattan, New York. Matthew Classi arranged the financing.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Richard Pergolis closed a permanent mortgage in the amount of $2,000,000 for a three story elevator office building on Eighth Avenue in Manhattan.
• Richard Pergolis arranged for a permanent mortgage in the amount of $1,000,000 for a four story walk up, mixed use property on East 7th Street in Manhattan.
• Barry Swartz obtained a permanent loan in the amount of $2,585,000 for a five story residential apartment building containing 20 units located on East 102nd Street in Manhattan.
Massey Knakal Realty Services and RiverOak Investment Corp., LLC, announced today that the companies’ partnership, MKRO I, has provided gap equity financing for a rental building located in Bushwick. The $3,480,000 investment was made on behalf of MKRO I, the partnership’s value-added real estate fund. DSA Realty Services has partnered with MKRO I, LLC on this investment. Arik Lifshitz, CEO of DSA Realty Services oversaw the investment. The approximately 57,125 s/f, 37-unit property holds ground-floor duplex apartments and a roof deck.
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North East Community Bank (NECB) closed the following:
• $420,000 mixed-use 3 story with basement, 2 unit building with 1 retail store in the East New York section of Brooklyn.
• $750,000 2 story commercial building with a total of 3 commercial units in the Morris Park neighborhood of the Bronx
• $1,850,000 on 3 buildings, containing 10 units in the Bushwick section of Brooklyn
• $325,000 first mortgage on a 5 story apartment building with basement, 10 units located in the Crown Heights section of Brooklyn
• $1,000,000 multi-family 3 story plus garden level walk-up building with 8 apartments located in the Central Harlem area of Manhattan
• $915,000 3 story, 12 unit residential building in the Brownsville section of Brooklyn
• $1,350,000 4 story plus basement walk-up multifamily building containing 16 unit in the Bedford Stuyvesant section of Brooklyn
• $750,000 mixed-use (2) 3 story attached walk-up buildings consisting of 4 units and 2 retail building in the Washington Heights neighborhood of Manhattan
• $901,000 first mortgage 2 story walk up professional office building containing 10 units in the Harrison section of Westchester
• $1,400,000 (9) 2 story walk up garden apartment complex containing 8 residential units per building in the Camden section of New Jersey
• $300,000 multi-family 4 story walk up building containing 12 residential units in the Park Slope section of Brooklyn
• $1,870,000 multi-family (3) 2 story walk up garden apartment complex containing 40 residential units total in the Gloucester County section of New Jersey
• $862,500 2 story walk up garden complex building containing 20 units in the Burlington section of New Jersey
• $1,200,000 2.5 story walk up building containing 35 residential units in the Camden section of New Jersey.
