Meridian Capital Group, LLC announced the following transactions:
• A new mortgage in the amount of $3,500,000 on a 60-unit, six-story multifamily building located on Roebling Avenue in the Bronx, NY. The loan features a rate of 2.85% and a 10-year term. Zev Feder and Sam Shifer negotiated this transaction.
• A new mortgage of $25,000,000 on two seven-story multifamily buildings totaling 278 units located on 135th Street in Briarwood, NY. The loan features a rate of 3.00% and a 15-year term. Elliot Birnbaum negotiated this transaction.
• New mortgages totaling $9,000,000 were placed on three multifamily buildings totaling 60 units located on East 70th Street and Columbus Avenue in New York, NY. The loans feature rates of 3.00% and 10-year terms. Michael Kesselman negotiated these transactions.
• A new mortgage of $6,500,000 was placed on a 22-unit, 15-story fractured condominium featuring 2,000 s/f of commercial space located on West 30th Street in New York, NY. The loan features a rate of 2.75% and a 10-year term. Simon Rosenfeld and Kyle Friedland negotiated this transaction.
• A new mortgage in the amount of $3,750,000 on a 189-unit, 10-story cooperative building located on Bleecker Street in New York, NY. The loan features a rate of 3.00% and a 10-year term. Morris Diamant and David Steinmetz negotiated this transaction.
• A new mortgage of $2,000,000 on two seven-story mixed-use buildings featuring 3,100 square feet of retail space located on Grand Street in New York, NY. The loan features a rate of 2.90% and a five-year term. Judah Hammer and Daniel Neiss negotiated these transactions.
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Pergolis Swartz Associates Inc. announced the following transactions:
• Barry Swartz closed a permanent loan in the amount of $15,375,000 for six 5-story residential apartment buildings containing 83 units and 53,445 square feet. The properties are located on West 103rd Street and West 108th Street in Manhattan.
• Len Solinsky arranged for a construction loan in the amount of $1,700,000 for the rehab of a 12 unit residential apartment building on Fredrick Douglass Blvd. in Manhattan.
• Len Solinsky obtained permanent financing in the amount of $5,650,000 for a residential apartment building containing 13 units located on Park Place in Brooklyn.
• Len Solinsky closed a construction loan in the amount of $1,500,000 for the rehab of a mixed use property containing 9 residential units and one commercial unit located on Seventh Avenue in Manhattan.
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Massey Knakal Capital Services announced the following transactions:
• A $3.4 million loan collateralized by a 16-unit multifamily property on the Upper West Side of Manhattan. The loan featured a fixed interest rate with a five-year term. Preston Flammang handled this transaction.
• A $1.6 million refinance loan collateralized by a multifamily property in Manhattan’s Midtown East neighborhood. The building contains nine residential units and consists of approximately 6,135 s/f. The loan featured a 10-year fixed term with an interest rate of 3.75%. Morris Betesh handled this transaction.
• A $1.75 million loan collateralized by a multifamily property in Manhattan’s West Village neighborhood. The building contains five residential units and consists of 3,100 s/f. The loan featured a 5-year fixed term with an interest rate of 2.75%. John Leslie handled this transaction.
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HKS Capital Partners LLC announced the following recent transactions:
• A $25 million permanent financing at 3.5%, ten-year-term, ten-year interest only on a twenty-two story, 400,000 s/ hotel building located in midtown Manhattan. Ayush Kapahi brokered this transaction.
• A $12.5 million loan financing at 3.64% and a ten-year-term on a twelve story, 69,289 sf hotel building located on the East side of New York, NY. Ayush Kapahi brokered this transaction.
• A $2.5 million financing at 4.5% and a fifteen-years self-liquidating term on this 4 story, 12 unit mixed-use building, located in the Bronx. Michael Lee brokered this transaction.
• A $1.550 million permanent financing at 3.125% and a five-year-term on three cross-collateralize multi-family buildings located in the Bushwick section of Brooklyn, NY. Michael Lee brokered this transaction.
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GCP Capital Group LLC arranged mortgage financing in the aggregate amount of $24,387,500 for the following properties:
• $6,187,500 for two 6-story apartment buildings containing a total of 35 units, located on the Lower East Side of Manhattan. Matthew Classi arranged the financing.
• $6,000,000 for two contiguous five-story apartment buildings containing a total of 40 units, located on East 61st Street in Manhattan. Paul Greenbaum arranged the financing.
• $4,600,000 for a two-story retail/office building comprised of 25,300 square feet, located on Union Turnpike in Queens. Adam Brostovski arranged the financing.
• $4,600,000 for a five-story apartment building containing 20 apartments, located on West 10th Street in Manhattan. Paul Greenbaum arranged the financingn.
• $3,000,000 for a free standing, single-tenant building occupied by a Walgreens Pharmacy, located in Long Beach, Nassau County. David Sessa arranged the financing.
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Eastern Union announced the following transactions:
• A $21,700,000 first lien mortgage for the refinance of a mixed use property with 38 residential units and 15,000 s/f on Wythe Avenue in Brooklyn, NY. This transaction was arranged by Ira Zlotowitz and Dov Zabrowsky.
• A $6,700,000 first lien mortgage for the refinance of a113 unit multifamily property on Jackson Street in Hempstead, NY. This transaction was arranged by Michael Muller.
• A $5,800,000 first lien mortgage for the refinance of an 84 unit multifamily property on Elk Street in Hempstead, NY. This transaction was arranged by Michael Muller.
• A $5,500,000 first lien mortgage for the refinance of a 5 unit office building with 19,500 SF on South 2nd Street in Brooklyn, NY. This transaction was arranged by Jonathan Singer.
• A $3,000,000 first lien mortgage for the refinance of a 53,000 SF office/ retail building on Eastchester Road in Bronx, NY. This transaction was arranged by Nate Hyman and David Metzger.
• A $1,500,000 first lien mortgage for the refinance of a 17 unit multifamily property on E. 237th Street in Bronx, NY. This transaction was arranged by Jonathan Singer.
• A $1,200,000 first lien mortgage for the refinance of a 24 unit multifamily property on 67th Street in Brooklyn, NY. This transaction was arranged by Shaya Wikler.
• A $1,070,000 first lien mortgage for the refinance of a 5 unit office building with 8,430 SF on Quakerbridge Road in Hamilton, NJ. This transaction was arranged by Jeff Seidenfeld.
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Houlihan-Parnes Realtors’ Mike O’Neill announced the financing of a $3,213,000 first mortgage on the 8,600 s/f Rite Aid pharmacy building located at 41-51 West Fordham Road in the Bronx, New York. The 7-year, non-recourse loan has a fixed rate of 4% and was done on a 30-year amortization schedule. The loan, closed with a local Bank, is prepayable throughout the term on a declining scale and the borrower has an option to extend the loan for an additional 5 years. The Borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP.
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NorthMarq announced the following transactions:
• Gary Cohen arranged a first mortgage loan in the amount of $630,000 for the refinance of a 10,000 s/f ground lease to Valley Cottage Industrial located at 201 route 303 in Valley Cottage, New York. Financing was based on a 3-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a local bank.
• Gary Cohen arranged a first mortgage refinancing of $6.15 million for 10 Industrial Avenue, a 91,448 s/f warehouse/office property located in Mahwah, New Jersey. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, Hampshire Generational fund, through its relationship with a regional bank.
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W Financial Fund, LP has originated the following bridge loans:
• A $3,000,000, first mortgage bridge loan to facilitate the acquisition of a 6,500 s/f retail property situated on a 24,117 s/f lot on Broadway in the Inwood neighborhood of Upper Manhattan. The site will permit development of a 95,286 s/f mixed-use building. The borrower plans to refinance W’s loan upon the closing of a construction loan. David Heiden, Jarret Schochet and Marisa Rosen handled the transaction.
• An $11,000,000 first mortgage bridge loan to refinance existing debt and to provide completion dollars for the gut renovation and conversion of a 32,000 s/ft, 4-story, brick industrial building on Metropolitan Avenue in Williamsburg, Brooklyn. The completed property will have 25 apartments and six stores. Once the property is fully leased the borrower expects to refinance conventionally. David Heiden, Jarret Schochet and Marisa Rosen handled the transaction.
