Meridian Capital announced the following transactions:
- A new mortgage in the amount of $3,900,000 on a six-story, 21-unit mixed-use property with 9,300 square feet of retail space located on Horace Harding Expressway in Queens, NY. The loan features a rate of 3.13% and a five-year term. Benjamin Klugman negotiated this transaction.
- A new mortgage of $10,000,000 was placed on a four-story, 37-unit mixed-use property with 3,750 square feet of retail space located on Broadway in New York, NY. The loan features a rate of 3.38% and a five-year term. This transaction was negotiated by Morris Diamant.
- A new mortgage in the amount of $5,225,000 on a five-story, 33-unit multifamily property located on East 104th Street in New York, NY. The loan features a rate of 3.38% and a five-year term. Isaac Filler and Michael Helmreich negotiated this transaction.
- A new mortgage of $2,650,000 was placed on a six-story, 78-unit cooperative property located on Grand Concourse in the Bronx, NY. The loan features a rate of 3.13% and a seven-year term. This transaction was negotiated by Avi Weinstock.
- A new mortgage in the amount of $2,600,000 on a three-story, six-unit multifamily property located on Harrison Place in Brooklyn, NY. The loan features a rate of 3.25% and a five-year term. Morris Diamant and Joe Klein negotiated this transaction.
- A new mortgage of $1,875,000 was placed on a four-story, eight-unit multifamily property located on Baltic Street in Brooklyn, NY. The loan features a rate of 3.38%. This transaction was negotiated by Alan Friedman.
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Houlihan-Parnes Realtors, LLC, has arranged a loan secured by a 1st mortgage in the amount of $2,000,000 encumbering a property located at 2075 Haviland Avenue in the Castle Hill neighborhood of the Bronx, NY. The property is improved with a 5-story brick walk-up rental apartment building constructed in 1916. There are 26 apartments, 4 retail stores and a basement containing the oil burning boiler and meters for gas and electric use. The loan, arranged by James K. Coleman, was placed with a Savings Bank for a 10-year term at a 5-yr fixed interest rate of 3.375% on a 30-yr amortization schedule with interest only payments for the first 2 year and an interest rate reset in year 6 at 250 basis points above the then 5-yr USTCM. The Lender charged a no commitment fee and the loan has a sliding scale penalty of 3-2-1-0-0 % for ach 5 year period in the case of prepayment.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $51,750,000 for the following properties:
- $18,700,000 for a 14-building garden style apartment complex containing 144 apartments, located in West Babylon, Suffolk County, New York. Matthew Classi, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $11,625,000 for a six-story apartment building containing 101 apartments, located on Grand Concourse in the Bronx, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this transaction.
- $11,050,000 for a six-story apartment building containing 63 units and 6,770 square feet of commercial space, located on Reservoir Avenue in the Bronx, New York. Paul Greenbaum, Managing Member of GCP Capital Group, arranged the financing for this property.
- $10,375,000 combined financing for two multifamily apartment buildings containing a total of 99 units, located in the Fordham Heights and Jerome sections of the Bronx, New York. Michael Charnowitz, Senior Associate of GCP Capital Group, arranged the financing
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Greenway Mortgage Funding Corp. announced that Corey Ahlawat, Senior Vice President of Greenway Private Client Group, financed an $8,167,500 loan for a $16,340,000 purchase of a two-bedroom, three bathroom unit at 432 Park Avenue. The postwar condo features a gross living area of 3,575 s/f, at a sale price of $4,570.63 per-square-foot and over $7,000 in monthly assessment fees. Located in Midtown Manhattan, the luxury, residential skyscraper is home to the highest rooftop in the city and remains New York City’s second tallest building, after One World Trade Center and the tallest residential building in the Western hemisphere.
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Eastern Union Funding has secured a $8.8 million loan for the refinancing of the Tulsa Promenade, a 424,633 s/f enclosed super regional mall in Tulsa, Oklahoma. Senior underwriter Abe Kolman arranged the low-leverage, non-recourse, five-year loan on behalf of Tulsa Promenade Realty Management LLC, a New York-based borrower. National firm, Ready Capital Structured Finance, was the lender. The loan is inclusive of future tenant improvements and leasing commissions that will be used to address lease rollover at the property, which was purchased in a short sale over two years ago for $12.3 million.
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Eastern Union Funding announced the following trnasactions:
- A $12,100,000 first lien mortgage for the refinance of a 24 unit mixed-use on West 27th St. in New York, NY. This transaction was arranged by Nate Hyman and David Metzger.
- A $5,000,000 first lien mortgage for the refinance of a 3 unit mixed-use on 3rd Ave. in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
- A $4,400,000 first lien mortgage for the refinance of a 32 unit multifamily on North Central Park Ave. and W Franklin Blvd in Chicago, IL. This transaction was arranged by Dov Zabrowsky and Yosef Munk.
- A $3,975,000 first lien mortgage for the acquisition loan of a 37 unit multifamily on Marion Ave. in Bronx, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $3,375,000 first lien mortgage for the acquisition loan of a 22 unit multifamily on E 195th St. in Bronx, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $3,100,000 first lien mortgage for the refinance of a 5 unit mixed-use on N 3rd St. in Brooklyn, NY. This transaction was arranged by David Metzger and Nate Hyman.
- A $2,662,500 first lien mortgage for the refinance of a 6 unit multifamily on Eldert St. in Brooklyn, NY. This transaction was arranged by Motti Blau and Mendy Pfeifer.
- A $1,800,000 first lien mortgage for the refinance of a 3 unit multifamily on Bushwick Ave. in Brooklyn, NY. This transaction was arranged by Jake Handelsman.
- A $1,750,000 first lien mortgage for the refinance of a 3 unit mixed-use on 8th St SE in Washington, DC. This transaction was arranged by Marc Tropp.
- A $1,500,000 first lien mortgage for the refinance of a retail property on Dixie Hwy in Hamilton, OH. This transaction was arranged by Marc Tropp and Shai Romirowsky.
- A $1,200,000 first lien mortgage for the refinance of a 10 unit multifamily on Greene St. in New Haven, CT. This transaction was arranged by Jonathan Singer.
- A $1,200,000 first lien mortgage for the refinance of a 10 unit multifamily on Wooster St, in New Haven, CT. This transaction was arranged by Jonathan Singer.
