Meridian Capital announced the following transactions:
• A new mortgage in the amount of $5,700,000 on an 81-unit multifamily property located on Livingston Street in Newark, NJ. The loan features a rate of 3.83% and a five-year term. Alan Friedman and Eric Chapek negotiated this transaction.
• A new mortgage of $3,100,000 on a 10-unit multifamily property located on East 130th Street in New York, NY. The loan features an initial rate of 3.50% and a five-year term. This transaction was negotiated by Michael Farkovits.
• A new mortgage in the amount of $2,600,000 on a 38-unit multifamily property located on Somerset Street in Newark, NJ. The loan features a rate of 3.83% and a five-year term. Alan Friedman and Eric Chapek negotiated this transaction.
• A $2,500,000 mortgage on a retail property totaling 7,200 square feet located on Springfield Boulevard in Queens, NY. The loan features an initial rate of 3.75% and a five-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
• A new mortgage in the amount of $1,200,000 on a 13-unit multifamily property located on Lexington Avenue in Jersey City, NJ. The loan features an initial rate of 3.50% and a five-year term. Chaim Tessler negotiated this transaction.
• A new mortgage of $1,000,000 on a 20-unit multifamily property located on 37th Street in Queens, NY. The loan features an initial rate of 3.92% and a seven-year term. This transaction was negotiated by Alan Friedman and Eric Chapek.
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Marcus & Millichap Capital Corporation announced the following transactions:
• A $6,700,000 loan for the acquisition of a 9,500 square foot multifamily building containing 13 units located in the Times Square neighborhood of Manhattan. The financing was arranged by Andrew Dansker and Matt Michelson.
• A $1,100,000 loan for the acquisition of a 9,300 square foot triple net leased retail property located on US Route 209 in Cuddebackville, NY. The transaction was arranged by Andrew Dansker.
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Andy Nemeroff, president of Imperial Capital Company, announced first mortgage financing of a retail condo at 127 Seventh Avenue in the Chelsea. The loan was for $8,890,000 for 9 years with an interest rate of 3.15%, based upon a 30-year amortization. It was completed with a local savings bank. The property is located right off the southeast intersection of 18th Street and 7th Avenue and net leased to Peoples United Bank, which is a subsidiary of Peoples United Financial Inc., a diversified financial services company, with approximately $125 billion in assets. This location helps contribute to a very strong depositary level at the location.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $46,100,000 for the following properties:
• An extension of a $12,700,000 loan for five commercial condominium units, within a 15-story building, comprised of approximately 10,000 square feet, located on Lexington Avenue in Manhattan, New York. Matthew Classi, Managing Member, arranged the financing for this transaction.
• $11,000,000 combined financing for three contiguous five-story mixed-use buildings containing a total of 90 units and 7,450 square feet of commercial space, located on Grand Concourse in the Bronx, New York. David Sessa, Managing Director, and Louis Perlmutter, Senior Broker, arranged the financing.
• $10,000,000 for an eight-story retail/office building comprised of approximately 47,000 square feet, located on East 149th Street in the Bronx, New York. Adam Brostovski, Principal, arranged the financing for this transaction.
• $6,600,000 for a one-story retail strip center of approximately 15,000 square feet containing 4 tenants, located on Union Turnpike in Queens, New York. Paul Greenbaum, Managing Member, arranged the financing.
• $5,800,000 for a two-story, 82 room lodge and on-site restaurant, located in Jericho, Nassau County, New York. Matthew Albano, Managing Director, arranged the financing for this transaction.
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Eastern Union Funding announced the following transactions:
• A $19,280,000 first lien mortgage for the acquisition of a 97-unit multifamily on Webbs Ln in Dover, DE. This transaction was arranged by David Singer.
• Judah Aderet and Marc Tropp arranged a $5,967,000 first lien mortgage for the acquisition of a 149-unit mobile home on Tara Blvd in Jonesboro, GA.
• A $4,500,000 first lien mortgage for the refinance of a 3-unit office building on Northern Blvd in Long Island City, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• A $3,525,000 first lien mortgage for the acquisition of a 29-unit multifamily on Newkirk Ave in Brooklyn, NY. This transaction was arranged by Isaac Sternhill.
• A $3,500,000 first lien mortgage for the refinance of an industrial on 4th St in Astoria, NY. This transaction was arranged by Jonathan Singer.
• A $2,477,000 first lien mortgage for the refinance of an 8-unit multifamily on Chauncey St in Brooklyn, NY. This transaction was arranged by Mendy Pfeifer and Motti Blau.
• A $1,540,000 first lien mortgage for the refinance of a 24-unit multifamily on White Horse Pike in Oaklyn, NJ. This transaction was arranged by Moti Amsel.
• A $1,500,000 first lien mortgage for the refinance of a 4-unit multifamily on Woodbine St in Ridgewood, NY. This transaction was arranged by Alex Freund.
